Centerbridge Partners, a global, multi-strategy private investment, and Bridgeport Partners, a private investment firm with a long-term, value-oriented approach, are to acquire Computer Services Inc (CSI), a provider of end-to-end fintech and regtech solutions, in an all-cash transaction valued at approximately $1.6 billion, or $58.00 per share.
Under the terms of the agreement, CSI shareholders will receive $58.00 per share in cash upon the closing of the transaction, which is expected to occur in the fourth quarter of calendar year 2022, subject to customary closing conditions, including CSI shareholder approval and regulatory review. The per-share purchase price represents a 53% premium to CSI’s closing stock price on Aug. 19, 2022, the last full trading day before the agreement was announced, and a premium of 54.4% over CSI’s 30-day volume-weighted average share price.
Further, in connection with the transaction, all members of the CSI board of directors and Founder and Chairman Emeritus John A Williams have entered into a voting and support agreement to vote in favour of the transaction.
Read more: Private Equity Wire
