Endurance rallies 61%; to be acquired by Clearlake Capital for $3B

  • Endurance International Group Holdings (NASDAQ:EIGI) +61.6% PM, entered into a definitive merger agreement to be acquired by affiliates of Clearlake Capital Group in an all cash transaction valued at ~$3B including outstanding indebtedness.
  • Under the agreement terms, Endurance common shares will be acquired for $9.50/share in cash representing a 64% premium to its last closing share price (Oct.30).
  • Transaction to be funded utilizing a combination of committed equity financing from the Clearlake funds and a committed debt financing.
  • Transaction expected to close in 1Q21 post which Endurance will become a wholly owned affiliate of Clearlake.
  • "We are pleased with this agreement which recognizes the value of our multi-brand scale platform. We are proud to serve ~5M customers worldwide as a provider of solutions that help small and medium businesses succeed online and enhance the value of their customer relationships," president & CEO Jeff Fox commented.

Recommended For You

Comments (1)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.