Private equity firm 3G Capital on Thursday entered into an agreement to acquire controlling interest in Hunter Douglas NV for an enterprise value of about $7.1 billion, the companies said in a joint statement.
The transaction values the ordinary shares of Hunter Douglas at 175 Euros ($198.21) per ordinary share, the company said in statement.
The Ordinary Share Price represents a 73% premium to Hunter Douglas’ closing ordinary share price on Dec. 30, 2021 of €101.40 and a 64% premium to Hunter Douglas’ all-time high closing ordinary share price of €106.40.
Hunter Douglas Group Co-President and Co-CEO David Sonnenberg, will transition to executive chairman of the board of directors and João Castro Neves, a senior partner at 3G Capital, is expected to serve as the company CEO upon completion of the transaction, it said.
Source: Reuters.com