Buyout firm KKR is acquiring publicly traded credit investment affiliate KKR Financial Holdings (KFN) in an exchange of stock worth $2.6 billion.
Announced Monday evening, the deal calls for KKR to exchange 0.51 shares of its own stock for each KFN share. According to KKR’s Monday closing price, the deal would value KFN at $12.79 per share, which represents a 35 percent premium over the target’s own stock price at Monday’s close. The transaction, which has been approved by KKR’s board of directors and a committee of independent KFN directors, is expected to close in the first half of 2014, pending regulatory approvals.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
