Seeking Alpha

Timing not yet set for KKR Financial takeover

  • KKR Financial (KFN -0.6%) doesn't give much color on its earnings call about the timing of its takeover by KKR other than to say the deal awaits approval by KFN shareholders. The S-4 filed by KKR on January 15 is under review and has not yet become effective.
  • As for KFN, it ended the year with book value of $10.58, up form $10.42 at the end of Q3. Shareholders will get 0.51 shares of KKR for every share of KFN they own. KKR is currently trading at $24.43, putting KFN's value at $12.46, a couple of percent less than the deal was worth when announced back in mid-December.
  • Earlier: KKR Financial Q4 results
Comments (1)
  • bvandersall@neo.rr.com
    , contributor
    Comments (49) | Send Message
     
    0.51 shares is too low for KFN shareholders. .54 would be a better median and .60 would be a sweet deal.
    2 Feb 2014, 08:45 PM Reply Like
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