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

Feb 5 (Reuters) - 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

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