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Hillenbrand Launches Conditional Change-of-Control Tender Offers

Story Highlights
  • Hillenbrand agreed in October 2025 to a merger making it a wholly owned Lone Star affiliate.
  • In January 2026, Lone Star launched conditional change-of-control offers to repurchase Hillenbrand’s 2029 and 2031 notes at a premium.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Hillenbrand Launches Conditional Change-of-Control Tender Offers

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An update from Hillenbrand ( (HI) ) is now available.

On October 14, 2025, Hillenbrand, Inc. agreed to be acquired via a merger in which LSF12 Helix Merger Sub, an affiliate of Lone Star Fund XII, will merge with and into Hillenbrand, leaving Hillenbrand as a wholly owned subsidiary of LSF12 Helix Parent, LLC. In connection with this planned change of control, on January 9, 2026, the Lone Star–affiliated parent launched conditional change-of-control offers to purchase any and all of Hillenbrand’s 6.2500% Senior Notes due 2029 and 3.7500% Senior Notes due 2031 at 101% of principal plus accrued interest, with the offers only required and capable of closing if the merger is consummated, the notes are downgraded below investment grade in the defined trigger period, and those conditions are satisfied before the offers expire no later than March 9, 2026, a structure that provides bondholders with an exit mechanism while underscoring the refinancing and ratings risk associated with the leveraged buyout.

The most recent analyst rating on (HI) stock is a Hold with a $34.00 price target. To see the full list of analyst forecasts on Hillenbrand stock, see the HI Stock Forecast page.

Spark’s Take on HI Stock

According to Spark, TipRanks’ AI Analyst, HI is a Neutral.

The score is driven primarily by mixed fundamentals—weak cash flow and declining revenue/low margins, partly balanced by manageable leverage. Technicals are supportive with price above key moving averages and a positive MACD. Valuation is a headwind due to a high P/E, while corporate events provide upside optionality from the approved all-cash acquisition, tempered by litigation-related deal risk.

To see Spark’s full report on HI stock, click here.

More about Hillenbrand

Hillenbrand, Inc. is an Indiana-based corporation whose outstanding debt includes 6.2500% Senior Notes due 2029 and 3.7500% Senior Notes due 2031, which are governed by indentures that provide bondholders with change-of-control protections tied to the company’s credit ratings.

Average Trading Volume: 1,708,501

Technical Sentiment Signal: Buy

Current Market Cap: $2.24B

Learn more about HI stock on TipRanks’ Stock Analysis page.

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