Vector Group Agrees To Be Acquired By Tokyo-Based JT Group For $15.00 Per Share In Cash Or Approximately $2.4B Of Total Equity Value
Portfolio Pulse from Benzinga Newsdesk
Vector Group is set to be acquired by Tokyo-based JT Group for $15.00 per share, totaling approximately $2.4 billion. The acquisition will make Vector Group a wholly owned subsidiary of JT Group, pending customary closing conditions and regulatory approvals. The deal is expected to close in Q4 2024.
August 21, 2024 | 10:04 am
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Vector Group is being acquired by JT Group for $15.00 per share, valuing the company at $2.4 billion. The acquisition is subject to shareholder and regulatory approvals and is expected to close in Q4 2024.
The acquisition price of $15.00 per share represents a premium over the current market price, which is likely to positively impact VGR's stock price in the short term. The deal's completion is contingent on shareholder and regulatory approvals, which introduces some uncertainty, but the announcement itself is a positive signal.
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