Veritiv Corporation To Be Acquired By CD&R; Shareholders To Receive $170/Share In Cash; Transaction Expected To Close In Q4 2023
Portfolio Pulse from Happy Mohamed
Veritiv Corporation (VRTV) has announced a definitive agreement to be acquired by Clayton, Dubilier & Rice, LLC (CD&R). Shareholders will receive $170 per share in cash, a 31% premium over Veritiv's 30-day volume-weighted average price. The transaction is expected to close in Q4 2023, subject to shareholder and regulatory approvals. Upon completion, Veritiv will become a privately held company and its shares will no longer be listed on public markets.
August 07, 2023 | 12:11 pm
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Veritiv Corporation is to be acquired by CD&R at a 31% premium. The transaction is expected to close in Q4 2023, after which Veritiv will become a privately held company.
The acquisition news is directly related to Veritiv Corporation and will have a significant impact on its stock. The premium price offered for the shares is likely to drive the stock price up in the short term. However, as the company will become privately held post-acquisition, its shares will be delisted.
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