- 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.
For further details see:
Horizon Global to be acquired by First Brands Group