Deal snapshot: LARGEST SHAREHOLDER OF SIZMED OPPOSES SALE TO VECTOR CAPITAL.
Alex Meruelo, the largest beneficial shareholder of US-based ad management company Sizmek Inc. (NASDAQ: SZMK) is in strong opposition to the sale of Sizmek to an affiliate of US-based private equity firm Vector Capital, Meruelo said. Meruelo, together with Meruelo Investment Partners LLC and Alex Meruelo Living Trust beneficially own approx. 13.8% of the company's outstanding shares of common stock.
On 3 August, Sizmek announced it had entered into a definitive agreement to be acquired by affiliates of Vector Capital for USD 3.90 per share in cash. This deal values Sizmek at around USD 122m.
Target: Sizmek Inc.
Buyer: Vector Capital/affiliate
Deal size in USD: USD 122m
Buyer advisor: Kirkland and Ellis LLP , ,
Comment: Deal is opposed by Alex Meruelo, who along with Meruelo Investment Partners LLC and Alex Meruelo Living Trust beneficially owns approx. 13.8% of the company's outstanding shares of common stock
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|Publication:||M & A Navigator|
|Date:||Aug 12, 2016|
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