HZN - Horizon Global to be acquired by First Brands Group

• Horizon Global ( NYSE: HZN ) has entered into a definitive merger pact with First Brands Group, LLC, pursuant to which First Brands will acquire Horizon Global.
• Per the terms of the deal include an all-cash tender offer, which upon successful closing will entitle each stockholder of Horizon Global’s common stock to receive cash consideration of $1.75/share.
• The deal will result in a collection of market leading brands within the automotive industry, serving both OEM and the aftermarket channels under one group.
• The combined group will have improved access to capital to ensure the continued growth and product development that has been a long-term strategic priority for Horizon Global, enabling the group to focus on serving its broad customer base without interruption.
• The deal represents a 31% premium to the trading price prior to the strategic alternative announcement in August 2022, and a 237% premium over the 30 day volume weighted trading price in Horizon Global’s common stock.
• It expects the deal to be completed in the first quarter of 2023.

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