- Belden (NYSE:BDC) is up 7% in early trade after posting results that beat expectations, as well as divesting its Live Media (Grass Valley) business to Black Dragon Capital.
- The transaction consideration includes an upfront cash payment of $140M plus various forms of deferred consideration, including a $213M five-year seller’s note, subject to adjustments for retained pension liabilities, up to $130M in PIK interest on the seller’s note over its five-year term, and $150M in potential earn-out payments.