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BRIEF-Magnite Says To Acquire SpotX From RTL Group For $1.17 Bln In Cash And Stock

· 02/05/2021 02:16
BRIEF-Magnite Says To Acquire SpotX From RTL Group For $1.17 Bln In Cash And Stock

- Magnite Inc MGNI.O:

  • MAGNITE TO ACQUIRE SPOTX

  • DEFINITIVE AGREEMENT TO ACQUIRE SPOTX FROM RTL GROUP FOR $1.17 BILLION IN CASH AND STOCK

  • PURCHASE PRICE CONSISTS OF $560 MILLION IN CASH AND 14 MILLION SHARES OF MAGNITE STOCK, FOR A TOTAL OF $1.17 BILLION

  • MAGNITE - TARGETING IN EXCESS OF $35MLN IN RUN-RATE OPERATING COST SYNERGIES, WITH MORE THAN HALF OF SYNERGIES REALIZED WITHIN 1ST YEAR OF COMBINATION

  • COMPANY EXPECTS TRANSACTION TO CLOSE IN Q2 OF 2021

Source text for Eikon: ID:nBw4qWb9ga

Further company coverage: MGNI.O


((Reuters.Briefs@thomsonreuters.com;))