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Envestnet (ENV) just unveiled an announcement.
Envestnet, Inc. has announced a merger with BCPE Pequod Buyer, Inc. and its subsidiary, with Envestnet set to become a wholly owned subsidiary upon completion. The merger, unanimously approved by Envestnet’s board, offers $63.15 per share to its stockholders, with provisions for both service-vesting and performance-vesting awards. The transaction is underpinned by substantial equity and debt financing commitments and includes “no-shop” restrictions, with termination fees applicable under certain conditions. The deal is expected to result in the delisting of Envestnet’s shares from the New York Stock Exchange once finalized.
Learn more about ENV stock on TipRanks’ Stock Analysis page.