Outdoor Cooking Company Weber Goes Private In $3.7B Deal

Author: Shivani Kumaresan | December 12, 2022 10:00am

• Weber Inc (NYSE:WEBR) has entered into a definitive merger agreement by which investment funds managed by BDT Capital Partners LLC will purchase all of the outstanding Shares for $8.05 per share.
• The total enterprise value of the deal will be $3.7 billion.
• The purchase price represents a premium of 60% to the closing price of the shares on October 24, 2022, the last trading day before the proposal was disclosed.
• "We appreciate the Special Committee's comprehensive evaluation of BDT's offer and are confident that this transaction provides immediate and fair value to Weber minority shareholders," said interim CEO Alan Matula.
• Under the transaction agreement, BDT managed investment funds will provide Weber with an additional unsecured loan facility in the aggregate principal amount of $350 million.
• Weber intends to utilize the loan for general corporate purposes, including repaying existing indebtedness.
• Weber will become a privately held company majority owned by investment funds managed by BDT. The transaction is expected to close in the first half of 2023.
• Price Action: WEBR shares are trading higher by 22.4% at $7.96 in premarket on the last check Monday.
• Photo Via Wikimedia Commons

Posted In: WEBR