Group of Shareholders Opposes Equifax offer to Acquire Boa Vista
A group of investors of Boa Vista signed a letter delivered to the Board of Directors at the end of February to state that they do not accept the offer of R$ 8 per share to merge Boa Vista with the non-operational Brazilian subsidiary of Equifax.
- A group of investors of Boa Vista signed a letter delivered to the Board of Directors at the end of February to state that they do not accept the offer of R$ 8 per share to merge Boa Vista with the non-operational Brazilian subsidiary of Equifax.
- The implicit multiple in the offer, 8.9x of Boa Vista’s EBITDA, is low, particularly when compared with the 19.3x multiple for Equifax at the time of the offer.
- In addition to this, Boa Vista has more than R$ 1 billion in net cash and has been consistently growing more rapidly than Equifax, all elements that justify a much higher price, explains the group.
- At this price, the Minority Shareholders believe that the shareholders are better served by keeping Boa Vista independent.