Resideo Technologies Agrees To Acquire Snap One For $10.75 Per Share In Cash, For Transaction Value Of Approximately $1.4B, Inclusive Of Net Debt
Portfolio Pulse from Benzinga Newsdesk
Resideo Technologies has agreed to acquire Snap One for $10.75 per share in cash, valuing the transaction at approximately $1.4 billion, inclusive of Snap One's forecasted net debt of $460 million. The deal, expected to close in the second half of 2024, has already received approval from private investment funds managed by Hellman & Friedman LLC, which hold about 72% of Snap One's outstanding shares. Upon completion, Snap One will be integrated into Resideo's ADI Global Distribution business.
April 15, 2024 | 10:05 am
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POSITIVE IMPACT
Resideo Technologies' acquisition of Snap One for $1.4 billion, including net debt, is expected to enhance its ADI Global Distribution business, with the deal closing in the second half of 2024.
The acquisition of Snap One by Resideo Technologies is a significant strategic move, likely to enhance Resideo's product offerings and market position. The positive market perception of such acquisitions generally leads to an optimistic outlook on the acquiring company's stock in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Snap One to be acquired by Resideo Technologies for $10.75 per share in cash, in a deal valued at approximately $1.4 billion, including net debt, with the transaction closing expected in the second half of 2024.
The acquisition of Snap One by Resideo Technologies at $10.75 per share represents a significant event for Snap One and its shareholders. Such acquisitions typically result in a positive short-term impact on the stock of the company being acquired, as the buyout price often represents a premium over the current market price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90