Share this Story: Focus Financial receives $4.1 bln take-private offer from buyout firm CD&R [Financial Post (Toronto, Ontario, Canada)]
Focus Financial Partners Inc. (FOCS)
Last focus financial partners inc. earnings: 2/20 07:00 am
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Source: Financial Post
Focus Financial Partners Inc has received a proposal from buyout firm Clayton, Dubilier and Rice (CD&R) to take it private at a $4.1 billion valuation, according to a statement on Thursday. CD&R has offered to buy the investment advisory firm for $53 per share in cash, with Focus now engaging in exclusive talks with CD&R aimed at negotiating the terms of a deal. Focus cautioned the price would not be moved any higher, and there was no guarantee a transaction would be consummated. News of the buyout offer sent shares of Focus to their highest level in nearly a year, touching $52.62 at one point, before coming off slightly. The stock was up 8.8% at $50.34 on Thursday afternoon. Stone Point Capital is considering whether to participate in the CD&R deal, including retaining some or all of its ownership stake once Focus is private and potentially putting in new equity capital, the statement said. The private equity firm and related entities effectively controlled 21.7% of Focus
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