- Pzena Investment Management ( NYSE: PZN ) has received all regulatory approvals to complete the proposed going-private transaction.
- On July 26, 2022, the investment manager entered into an definitive agreement to become a private company through a transaction in which holders of PZN Class A common stock will receive $9.60/share in cash.
- Pursuant to the deal, PZN will merge with and into a newly formed subsidiary of its operating company, Pzena Investment Management, LLC in an all-cash transaction.
- The merger agreement was unanimously approved by a Special Committee of independent and disinterested directors as well as PZN board of directors.
- The transaction is expected to close in the fourth quarter of 2022, subject to receipt of requisite approval by PZN stockholders and satisfaction of other customary closing conditions.
- A special meeting of stockholders to vote on the transaction will be held virtually on Oct 27, 2022.
For further details see:
Pzena Investment receives all regulatory approvals for going-private deal