Red Ventures to acquire Bankrate in all-cash deal with an enterprise value of $1.4 billion [MarketWatch]
BANKRATE (RATE)
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Source: MarketWatch
Red Ventures to acquire Bankrate in all-cash deal with an enterprise value of $1.4 billion Bankrate RATE, +1.98% an online publisher of personal finance content, said Monday that it has entered a deal with Red Ventures to be acquired in an all-cash deal values Bankrate at an enterprise value of about $1.4 billion. Red Ventures is a data company that connects financial services, home services and healthcare businesses to consumers. Bankrate shareholders will receive $14 per share, about 31% above Bankrate's average closing share price for the past three months. The transaction is expected to close in 2017. Bankrate is up 66% for the past year while the S&P 500 index SPX, +0.15% is up 15.2% for the period.
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