- A pair of private equity firms are set to acquire fintech business Blackhawk Network Holdings in a deal worth $3.5bn.
- California-based Blackhawk is a physical/digital gift card and prepaid payments network. A selection of gift cards, cash-based payment products, prepaid debit cards and rebate cards are available on the platform.
Blackhawk Network to be acquired by Silver Lake and P2 Capital Partners for $45.25/share in cash, or approximately $3.5 bln
The definitive agreement has fully committed debt and equity financing, including an approximately $1.7 billion equity commitment from Silver Lake. P2 Capital Partners, which beneficially owns approximately 5.4% of Blackhawk's outstanding common stock, has committed to vote in favor of the proposed transaction. The transaction, which is expected to close mid-2018, is subject to customary closing conditions, including receipt of stockholder and regulatory approvals