WEBR goes private - breaking news


 
Brett-EDH

Brett-EDH

TVWBB Olympian
Weber to be taken private by BDT Capital Partners for $8.05/share; deal expected to close in 1H23 (shares halted)

  • WEBR announced that it has entered into a definitive merger agreement pursuant to which investment funds managed by BDT Capital Partners LLC will purchase all of the outstanding Class A Shares that they do not already own, for $8.05 per share of Class A common stock of Weber, which implies a total enterprise value of $3.7 billion for Weber.
  • A special committee (the "Special Committee") of the Board, comprised solely of independent directors, advised by its own independent financial and legal advisors, determined that the proposed transaction is in the best interests of the holders of Class A Shares other than BDT and unanimously recommended that the Board approve the transaction. Acting upon the recommendation of the Special Committee, Weber''s Board approved the transaction.
  • The transaction is expected to close in the first half of 2023, subject to customary closing conditions, including HSR clearance. The transaction has been approved by the written consent of the holders of the requisite number of shares of common stock of Weber, such that no additional stockholder approval is required.
 

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Honestly all these terms escape me. What does this stuff mean to say someone who bought Weber stock? They're out what they spent?
 
LMichaels said:
Honestly all these terms escape me. What does this stuff mean to say someone who bought Weber stock? They're out what they spent?
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Stock owners will be paid the per share price per the agreed sale price for each share they own.

Basically you’re being bought out at a price someone else agreed to what the company is worth.
 
JSaus said:
Well, that only lasted a year or so. Their future will be interesting.
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Last quarters results report is due Dec 14. I’m guessing Weber is still facing very strong headwinds since they took operating capital from BDT just recently.
 
Well that didn’t take long.

”MONSEY, N.Y., Dec. 12, 2022 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating whether the directors of Weber, Inc. (NYSE: WEBR) (“Weber”) acted in the best interests of Weber shareholders in approving the sale of Weber to its controlling shareholder, BDT Capital Partners (“BDT”), for $8.05 per share in cash for all outstanding Class A shares not already owned by BDT.”



https://www.globenewswire.com/news-...ale-of-Weber-Inc-to-BDT-Capital-Partners.html
 
Bradley Mack said:
Well that didn’t take long.

”MONSEY, N.Y., Dec. 12, 2022 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating whether the directors of Weber, Inc. (NYSE: WEBR) (“Weber”) acted in the best interests of Weber shareholders in approving the sale of Weber to its controlling shareholder, BDT Capital Partners (“BDT”), for $8.05 per share in cash for all outstanding Class A shares not already owned by BDT.”



https://www.globenewswire.com/news-...ale-of-Weber-Inc-to-BDT-Capital-Partners.html
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There’s like 5+ firms “investigating.”

SOP for these actions.
 
Dave in KC said:
What if I do not want to sell my shares?
Am I forced to take $8.05?
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yes, you'll be liquidated as all the public shares will be called in and you'll receive a check. if the sale closes, the stock will be delisted and shareholders will receive the "buy" price, the agreed price per share on the deal.
 
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