KKR Bets Big on E-Procurement: Snags mdf commerce In C$255M Cash Deal
Portfolio Pulse from Lekha Gupta
KKR & Co (NYSE:KKR) has agreed to acquire mdf commerce inc. (OTC:MECVF) for C$255 million in cash, representing a significant premium over the current and 52-week high share prices. The deal, expected to close in Q2 2024, aims to accelerate the expansion of mdf commerce's North American eProcurement platform, serving over 6,500 government agencies and 650,000 suppliers. KKR's investment is part of its Ascendant Strategy focusing on middle market businesses in North America.
March 11, 2024 | 2:25 pm
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POSITIVE IMPACT
KKR & Co has announced the acquisition of mdf commerce inc. for C$255 million, aiming to expand and scale mdf commerce's eProcurement platform.
The acquisition of mdf commerce by KKR is a strategic move to enhance KKR's portfolio in the eProcurement sector, likely leading to positive market sentiment and potential growth opportunities for KKR.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
mdf commerce inc. is being acquired by KKR & Co for C$255 million, a deal representing a significant premium over its current and 52-week high share prices.
The acquisition of mdf commerce by KKR at a significant premium is likely to be viewed positively by mdf commerce's shareholders, potentially leading to a short-term increase in its share price.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100