CDK - CDK Global to be acquired by Brookfield for $54.87/share in cash
CDK Global (NASDAQ:CDK) to be acquired by Brookfield Business Partners for a total enterprise value of $8.3B. Brookfield will commence a tender offer to acquire all of the outstanding shares of CDK at $54.87 per share in cash, representing a 30% premium on the closing price of the company on the last full trading day prior to market speculation regarding a potential sale of the company on Feb. 18, 2022. The transaction is expected to close in 3Q22, after that CDK’s common stock will no longer be listed on the Nasdaq Global Select Market. Brookfield will acquire all remaining shares not tendered in the tender offer through a second-step merger at the same price.
For further details see:
CDK Global to be acquired by Brookfield for $54.87/share in cash