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Defensive Acquisition with Upside
On Tuesday, just a week after Quintana’s press release announcing the termination of the sale process, Excel and Quintana jointly announced that Excel had, over the weekend, agreed to acquire Quintana pursuant to a definitive merger agreement whereby Quintana would become a wholly owned subsidiary of Excel. The purchase price will be approximately $2.2 billion (based upon Excel’s closing price of $33.00), including net debt of Quintana and other costs.
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Tags: · AMCIC, Armada, Citi, Cornell, COSCO, Credit Suisse, Daeyang, Deutsche Bank, DVB, EXCEL, GE Capital, Gr. J. Timagenis, Maryville, Mende, Molaris, Morgan Lewis & Bockius, National Bank of Greece, Nordea, Nordea Bank Finland Plc, Oceanaut, Oldendorff, Panayotides, Quintana, Robertson, White & Case
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