Goldman Sachs Upgrades Conversant (CNVR) to Neutral
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Alliance Data Systems (ADS) to Acquire Conversant (CNVR) in $2.3B Deal
September 11, 2014 4:03 PM EDTAlliance Data Systems (NYSE: ADS) and Conversant, Inc. (NASDAQ: CNVR) announced the execution of a definitive agreement whereby Alliance Data will purchase Conversant. Under the terms of the agreement, Alliance Data will acquire all outstanding shares of Conversant for a combination of cash and stock valued at approximately $2.3 billion, or $35 per Conversant share. The purchase price, structured to be paid with approximately 48 percent cash and 52 percent ADS shares, represents 10x Conversant's expected forward adjusted EBITDA of $230 million for 2015. The transaction is subject to regulatory approval and customary... More
