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KKR & Co (NYSE:KKR) has announced an acquisition of Chase (AMEX:CCF) that is expected to be completed in Q4 of 2023.
Under the terms of the agreement, KKR & Co has agreed to give Chase $1.30 billion in cash in exchange for CCF stock.
KKR is one of the world's largest alternative asset managers, with $510.1 billion in total assets under management, including $415.
Chase Corp is a specialty chemical company. It operates through the following segments: Adhesives, Sealants and Additives, Industrial Tapes and Corrosion Protection and Waterproofing.
An acquisition is when one company, called the acquiring company, buys most or all of another company's, or target company's, shares to gain ownership. Buying more than 50% of a company's stock allows the the acquirer to make decisions without the approval of the company's shareholders.
An acquisition can potentially lead to a merger with the parent company, which makes it similar to a merger. This is why the two terms are commonly grouped together as mergers and acquisitions (M&A). However, in a merger, the leadership & operations of both companies usually change dramatically, while during an acquisition this is less likely to happen.
Make sure to follow our mergers & acquisitions calendar to stay-up-to-date on the most recent M&A deals.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
