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KKR & Co LP to Acquire KKR Financial Holdings LLC for $2.6 bln in an all-equity transaction


Monday, 16 Dec 2013 04:52pm EST 

KKR Financial Holdings LLC and KKR & Co LP:Says the signing of a definitive merger agreement where KKR will acquire KFN through a stock-for-stock merger that values KFN at $2.6 bln.Says under the agreement, which has been approved by the boards of directors of both KKR and KFN, in KFN`s case based on the unanimous recommendation of a committee of independent directors of KFN, shareholders of KFN will receive 0.51 common units of KKR for each common share of KFN.Says based on KKR`s closing price as of Dec. 16, the exchange ratio equates to a value of $12.79 per common share of KFN, implying a 35% premium to KFN`s closing price on Dec. 16, 2013, or $2.6 billion in total common equity value. 

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11 Jul 2014