Neustar announced its acquisition by a private investment group, for $2.9 billion dollars.
The provider of real-time information services came to the agreement, supported by its board of directors, at a price of $33.50 dollars per share, paid in cash.
The private investment group, led by Golden Gate Capital, pays a 45% premium on the stock’s value as it was on November 11th, 2016 – the day before the investment group filed a Form 13F with the SEC, disclosing its equity position in Neustar.
Currently, the NYSE traded stock NSR trades approximately 19.35% higher than yesterday, reaching a price of $33.20 at 2:00pm Eastern.
Golden Gate Capital is a privately held enterprise with over $15 billion in committed capital. It operates as a private holding company and recapitalize, restructure, and ultimately build meaningful businesses in partnership with management over an indefinite time horizon.
About the transaction:
“The transaction, which is expected to close no later than the end of the third calendar quarter of 2017, is subject to approval by Neustar’s shareholders, regulatory approvals and other customary closing conditions. Under the terms of the agreement, the Company may solicit alternative proposals from third parties for 30 days. There can be no assurances that this process will result in a superior proposal.
J.P. Morgan Securities LLC is serving as financial advisor while Goodwin Procter and Wiley Rein are serving as legal advisors to Neustar. BofA Merrill Lynch, UBS Investment Bank, Jefferies Finance LLC and an affiliate of Angel Island Capital have agreed to provide debt financing in connection with the transaction. BofA Merrill Lynch is serving as financial advisor and Kirkland & Ellis and Nob Hill Law Group are serving as legal advisors to Golden Gate Capital. Sidley Austin LLP is serving as legal advisor to GIC.”
For more information, head over to the press release by Neustar.
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