Ebix (EBIX) Announces $66M Acquisition of A.D.A.M. (ADAM)
Ebix, Inc. (Nasdaq: EBIX) announces a $66 million acquisition of A.D.A.M., Inc. (Nasdaq: ADAM).
According to the release: "Under the terms of the merger agreement, unanimously approved by both Boards of Directors, A.D.A.M. shareholders will receive 0.3122 of Ebix common stock for each share of A.D.A.M. common stock in a tax-free reorganization, subject to certain adjustments specified in the merger agreement. The exchange ratio of 0.3122 is based on a $19.06 agreed value of Ebix common stock for purposes of the merger agreement. Upon the closing of the transaction, A.D.A.M. shareholders will own approximately 7 percent of the combined company."
Click here for more color.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
According to the release: "Under the terms of the merger agreement, unanimously approved by both Boards of Directors, A.D.A.M. shareholders will receive 0.3122 of Ebix common stock for each share of A.D.A.M. common stock in a tax-free reorganization, subject to certain adjustments specified in the merger agreement. The exchange ratio of 0.3122 is based on a $19.06 agreed value of Ebix common stock for purposes of the merger agreement. Upon the closing of the transaction, A.D.A.M. shareholders will own approximately 7 percent of the combined company."
Click here for more color.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
You May Also Be Interested In
- UPDATE: SAP's (SAP) America Unit to Buy Ariba (ARBA) for $45/Share
- Barclays Comments on Wesco Aircraft Holdings (WAIR) Acquisition of Interfast; Deal Accretive to 2013
- NYSE Euronext (NXY) to Acquire Ethics Compliance Consulting Firm Corpedia Corp.
Create E-mail Alert Related Categories
Mergers and AcquisitionsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
