SMART Modular Technologies/Silver Lake Partners
On April 26, 2011, SMART Modular Technologies (Nasdaq: SMOD) entered into an agreement to be acquired by Silver Lake Partners and Silver Lake Sumeru for $9.25 per share in cash, or total consideration $645 million.
Closing is expected in Q311.
Barclays Capital is serving as financial advisor to SMART and provided a fairness opinion in connection with the transaction to the Special Committee of the SMART Board. Kaye Scholer LLP serves as legal adviser to the Special Committee and Davis Polk & Wardwell LLP serves as legal counsel to SMART in connection with this transaction. Simpson Thatcher & Bartlett LLP serves as legal advisor to Silver Lake for this transaction. Debt financing commitments have been provided by J.P. Morgan and UBS Investment Bank and certain of their affiliates.
Closing is expected in Q311.
Barclays Capital is serving as financial advisor to SMART and provided a fairness opinion in connection with the transaction to the Special Committee of the SMART Board. Kaye Scholer LLP serves as legal adviser to the Special Committee and Davis Polk & Wardwell LLP serves as legal counsel to SMART in connection with this transaction. Simpson Thatcher & Bartlett LLP serves as legal advisor to Silver Lake for this transaction. Debt financing commitments have been provided by J.P. Morgan and UBS Investment Bank and certain of their affiliates.
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Needham & Company Maintains a 'Hold' on SMART Modular (SMOD); With No Other Bidders Appearing, We See The ‘Going Private’ Transaction Closing As Planned
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Wedbush Downgrades SMART Modular Technologies (SMOD) to Neutral; Silver Lake Aims To Take SMART Private in All-Cash Deal
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Notable Mergers and Acquisitions of the Day 04/26: (LWSN) (SMOD) (AEG)
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Morning Movers 04/26: (REDF) (ACAD) (USAT) (IIVI) Higher; (GFRE) (WIBC) (LXK) (ININ) Lower
