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Leading Independent Proxy Advisory Firm ISS Recommends Vista Outdoor Stockholders Vote “FOR” the Sale of The Kinetic Group to CSG

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월요일, 6월 3, 2024

Retail, Sports, Other Retail, Manufacturing, Outdoors, General Sports, Other Manufacturing, Morgan Stanley, LLP, Kinetic Group, Vista Outdoor, CSG, Sale, Institutional Shareholder Services, Cravath, Swaine & Moore, ISS, Acquisition, Gibson Dunn, Holding company

Vista Outdoor Inc. (“Vista Outdoor” or the “Company”) (NYSE: VSTO) announced today that leading independent proxy advisory firm Institutional Shareholder Services (“ISS”) recommends stockholders vote “FOR” the proposed sale of Vista Outdoor’s The Kinetic Group business to Czechoslovak Group a.s. (“CSG”).

Key Points:

Vista Outdoor Inc. (“Vista Outdoor” or the “Company”) (NYSE: VSTO) announced today that leading independent proxy advisory firm Institutional Shareholder Services (“ISS”) recommends stockholders vote “FOR” the proposed sale of Vista Outdoor’s The Kinetic Group business to Czechoslovak Group a.s. (“CSG”).
Based on the amended merger agreement with CSG, Vista Outdoor stockholders will receive at the closing of the Transaction (a) one share of common stock of Revelyst and (b) $16.00 in cash, in each case, per share of Vista Outdoor common stock.
Morgan Stanley & Co. LLC is acting as sole financial adviser to Vista Outdoor and Cravath, Swaine & Moore LLP is acting as legal adviser to Vista Outdoor.
Moelis & Company LLC is acting as sole financial adviser to the independent directors of Vista Outdoor and Gibson, Dunn & Crutcher LLP is acting as legal adviser to the independent directors of Vista Outdoor.

New Mountain Capital and Grant Thornton close growth investment

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금요일, 5월 31, 2024

Finance, Consulting, Accounting, Professional Services, Asset Management, CFO, Investment, CDPQ, CPA, OA, Jefferies Group, Growth, Guggenheim Partners, LLP, Gibson Dunn, Dechert, Simpson Thacher & Bartlett

Grant Thornton LLP, one of America’s leading providers of audit, assurance, tax and advisory services, and New Mountain Capital, a leading growth-oriented investment firm with approximately $50 billion in assets under management, today announced the closing of a significant growth investment in Grant Thornton that will accelerate the firm’s business strategy.

Key Points:

Grant Thornton LLP, one of America’s leading providers of audit, assurance, tax and advisory services, and New Mountain Capital, a leading growth-oriented investment firm with approximately $50 billion in assets under management, today announced the closing of a significant growth investment in Grant Thornton that will accelerate the firm’s business strategy.
CDPQ and OA Private Capital made minority investments in Grant Thornton alongside New Mountain Capital.
Grant Thornton remains part of the Grant Thornton International Limited network of member firms, providing global reach to its clients.
CDPQ, a global investment group headquartered in Canada, and OA Private Capital, a family office investment advisory firm located in Michigan, made minority equity investments in Grant Thornton alongside New Mountain Capital.

KKR to Acquire Majority Ownership in Agiloft

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목요일, 5월 30, 2024

Professional Services, Data Management, Technology, Finance, Software, Asset Management, CLM, OutSystems, KKR, Growth, Gibson Dunn, Multimedia

KKR, a leading global investment firm, today announced that a fund managed by KKR has entered into an agreement to acquire a majority stake in Agiloft (“the Company”), a trusted global leader in data-first contract lifecycle management (“CLM”).

Key Points:

KKR, a leading global investment firm, today announced that a fund managed by KKR has entered into an agreement to acquire a majority stake in Agiloft (“the Company”), a trusted global leader in data-first contract lifecycle management (“CLM”).
“I am enormously proud and humbled by what we have been able to accomplish at Agiloft.
Since 2011, KKR portfolio companies have awarded billions of dollars in equity to over 100,000 non-senior management employees across more than 40 portfolio companies.
Gibson, Dunn & Crutcher LLP served as legal advisor to KKR.

Merck to Acquire EyeBio

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수요일, 5월 29, 2024

Merck (NYSE: MRK), known as MSD outside of the United States and Canada, and Eyebiotech Limited (EyeBio), a privately held ophthalmology-focused biotechnology company, today announced that the companies have entered into a definitive agreement under which Merck, through a subsidiary, will acquire EyeBio.

Key Points:

Merck (NYSE: MRK), known as MSD outside of the United States and Canada, and Eyebiotech Limited (EyeBio), a privately held ophthalmology-focused biotechnology company, today announced that the companies have entered into a definitive agreement under which Merck, through a subsidiary, will acquire EyeBio.
“The EyeBio team, under the leadership of Dr. David Guyer and Dr. Tony Adamis, has a strong track record of developing groundbreaking ophthalmology therapies.
“The EyeBio team has successfully assembled a pipeline of novel candidates with the potential to provide new treatment options for patients with retinal disease,” said Dr. David R. Guyer, chief executive officer and president, EyeBio.
Centerview Partners LLC acted as financial advisor to EyeBio and Skadden, Arps, Slate, Meagher & Flom LLP as the company’s legal advisors.

Vista Outdoor Rejects Unsolicited Indication of Interest from MNC Capital

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화요일, 5월 28, 2024

Vista Outdoor Inc. (“Vista Outdoor” or the “Company”) (NYSE: VSTO) today announced that its Board of Directors (the “Board”), following consultation with its financial and legal advisors, has rejected the unsolicited indication of interest received from MNC Capital (“MNC”) on March 25, 2024 pursuant to which MNC expressed interest in acquiring Vista Outdoor in an all-cash transaction for $37.50 per Vista Outdoor share.

Key Points:

Vista Outdoor Inc. (“Vista Outdoor” or the “Company”) (NYSE: VSTO) today announced that its Board of Directors (the “Board”), following consultation with its financial and legal advisors, has rejected the unsolicited indication of interest received from MNC Capital (“MNC”) on March 25, 2024 pursuant to which MNC expressed interest in acquiring Vista Outdoor in an all-cash transaction for $37.50 per Vista Outdoor share.
The full text of the letter to MNC follows:
I am writing on behalf of Vista Outdoor Inc. (“Vista”) in response to MNC Capital’s (“MNC”) letters dated March 25, 2024, March 29, 2024, April 7, 2024 and May 17, 2024, expressing MNC’s interest in pursuing a transaction pursuant to which MNC would acquire Vista in an all-cash transaction for $37.50 per Vista share (the “MNC Revised Indication”).
Chairman of the Board of Directors of Vista Outdoor Inc.
Morgan Stanley & Co. LLC is acting as sole financial adviser to Vista Outdoor and Cravath, Swaine & Moore LLP is acting as legal adviser to Vista Outdoor.
Moelis & Company LLC is acting as sole financial adviser to the independent directors of Vista Outdoor and Gibson, Dunn & Crutcher LLP is acting as legal adviser to the independent directors of Vista Outdoor.

Vista Outdoor Confirms CSG Increases Purchase Price for The Kinetic Group Business by $50 Million to $1.96 Billion

Retrieved on:

화요일, 5월 28, 2024

Vista Outdoor Inc. (“Vista Outdoor” or the “Company”) (NYSE: VSTO) today announced that, on May 27, 2024, it entered into an amendment to the merger agreement with Czechoslovak Group a.s. (“CSG”).

Key Points:

Vista Outdoor Inc. (“Vista Outdoor” or the “Company”) (NYSE: VSTO) today announced that, on May 27, 2024, it entered into an amendment to the merger agreement with Czechoslovak Group a.s. (“CSG”).
The amended agreement, among other things, increases the base purchase price payable by CSG for the acquisition of The Kinetic Group business (the “Transaction”) by $50 million from $1.91 billion to $1.96 billion and increases the cash consideration payable to Vista Outdoor stockholders by $3.10 per share of Vista Outdoor Common Stock from $12.90 to $16.00 in cash, a 24% increase.
In light of the excess cash generated by Vista Outdoor in its fourth quarter, Vista Outdoor has determined that Vista Outdoor will return approximately $130 million of excess cash to its stockholders as a part of the cash consideration in the Transaction, in addition to the $50 million increase in the base purchase price by CSG that will also be delivered to Vista Outdoor stockholders.
Morgan Stanley & Co. LLC is acting as sole financial adviser to Vista Outdoor and Cravath, Swaine & Moore LLP is acting as legal adviser to Vista Outdoor.

RedBird IMI Completes Acquisition of Global Production Company All3Media

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목요일, 5월 16, 2024

The media company’s CEO Jane Turton and COO Sara Geater will continue to lead All3Media for RedBird IMI.

Key Points:

The media company’s CEO Jane Turton and COO Sara Geater will continue to lead All3Media for RedBird IMI.
RedBird IMI launched just over a year ago, with the goal of building a global media company across news, entertainment and sports.
Its investments include the Los Angeles-based scripted production company Media Res, the unscripted production company EverWonder Studios, the children’s entertainment company Hidden Pigeon Company and the digital news outlet Front Office Sports.
RedBird Advisors acted as financial advisor to RedBird IMI and RedBird Capital Partners, and Gibson, Dunn & Crutcher LLP acted as its legal advisor.

Crescent Energy to Acquire SilverBow Resources for $2.1 Billion, Creating a Leading Growth Through Acquisition Company with a Premier Eagle Ford Position

Retrieved on:

목요일, 5월 16, 2024

Energy, Other Energy, Oil, Gas, Vinson & Elkins, BofA Securities, Wells Fargo, Jefferies Group, Committee, Growth, Share repurchase, Central Time, Eagle Ford, Dallas, Acquisition, All, Webcast, Gibson Dunn, Potential, Security (finance)

Crescent Energy Company (NYSE: CRGY) (“Crescent” or the “Company”) and SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow”), today announced that they have entered into a definitive agreement pursuant to which Crescent will acquire SilverBow in a transaction valued at $2.1 billion.

Key Points:

Crescent Energy Company (NYSE: CRGY) (“Crescent” or the “Company”) and SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow”), today announced that they have entered into a definitive agreement pursuant to which Crescent will acquire SilverBow in a transaction valued at $2.1 billion.
“This is a compelling transaction for shareholders of both companies, creating a premier growth through acquisition platform,” said John Goff, Crescent’s Chairman of the Board.
The SilverBow team has built a complementary and high-quality position in the Eagle Ford, and we believe the combination offers a unique value proposition in our evolving sector.
The SilverBow team built an incredible company, and today’s exciting announcement is a testament to their hard work and dedication.

Warwick Investment Group Announces $150 Million Development Agreement in the Core of the Delaware Basin

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월요일, 5월 13, 2024

Permian, Partnership, Geology, Investment, Delaware Basin, Warwick Investment Group, Kate Richard, Gibson Dunn, Multimedia, History, Engineering, Nightclub

DALLAS, May 13, 2024 /PRNewswire/ -- Warwick Investment Group ("Warwick") is proud to announce its latest strategic investment in a $150 million development agreement in the Delaware Basin in Texas.

Key Points:

DALLAS, May 13, 2024 /PRNewswire/ -- Warwick Investment Group ("Warwick") is proud to announce its latest strategic investment in a $150 million development agreement in the Delaware Basin in Texas.
Warwick's partner is a privately-owned Dallas-based company with a track record of development success in the Permian Basin.
As part of the agreement, a Joint Development Committee has been formed by Warwick's technical team and its operating partner.
Warwick expects the development to start within the next two weeks and continue for the 12-18 months into 2025.

IOG Resources II Announces Acquisition

Retrieved on:

월요일, 5월 6, 2024

Finance, Oil, Gas, Energy, Professional Services, Asset Management, Chevron Corporation, Asset, CIVI, IOG, Occidental Petroleum, Acquisition, Gibson Dunn

IOG Resources II, LLC (“IOGR II”) today announced that it has acquired oil and gas working interests and royalty interests (the “Assets”) in the DJ Basin from Civitas Resources, Inc. (NYSE: CIVI).

Key Points:

IOG Resources II, LLC (“IOGR II”) today announced that it has acquired oil and gas working interests and royalty interests (the “Assets”) in the DJ Basin from Civitas Resources, Inc. (NYSE: CIVI).
The Assets include approximately 1,480 developed and undeveloped wellbores located primarily in Weld County, Colorado.
The acquisition represents the fourth investment in IOGR II and the sixteenth investment for the IOG Resources platform.
Gibson, Dunn & Crutcher LLP acted as legal counsel to IOGR II.