Lionsgate, a premier next generation content leader, and Starz, a leading integrated media and entertainment company, today announced an agreement under which Lionsgate will acquire Starz for a combination of cash and stock totaling $4.4 billion, creating a global content powerhouse positioned to capitalize on growth opportunities worldwide.
Under the terms of the agreement, each share of Lionsgate common stock will be reclassified into 0.5 voting and 0.5 newly created non-voting shares. Holders of each share of Starz Series A common stock will receive $18.00in cash as well as 0.6784 of a share of Lionsgate non-voting stock based on a fixed exchange ratio. Based on Lionsgate's 20-trading day volume weighted average price ("Vwap"), as of June 28, 2016, the offer represents a total value of $32.73 per share to Starz shareholders, an 18% premium to Starz's 20-trading day Vwap as of the same date. Holders of each share of Starz Series B common stock will receive $7.26 in...
Under the terms of the agreement, each share of Lionsgate common stock will be reclassified into 0.5 voting and 0.5 newly created non-voting shares. Holders of each share of Starz Series A common stock will receive $18.00in cash as well as 0.6784 of a share of Lionsgate non-voting stock based on a fixed exchange ratio. Based on Lionsgate's 20-trading day volume weighted average price ("Vwap"), as of June 28, 2016, the offer represents a total value of $32.73 per share to Starz shareholders, an 18% premium to Starz's 20-trading day Vwap as of the same date. Holders of each share of Starz Series B common stock will receive $7.26 in...
- 6/30/2016
- by Kellvin Chavez
- LRMonline.com
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