Red Ventures Buys Online Publisher Bankrate for $1.24 Billion
Mon Jul 03 2017
Ray Pierce (785 articles)

Red Ventures Buys Online Publisher Bankrate for $1.24 Billion

Bankrate , an online publisher of personal finance content, said on Monday it would be acquired by digital marketing company Red Ventures for $ 1.24 billion.

Bankrate ‘s shares rose 7% to $ 13.75 in premarket trading, slightly below the offer price of $ 14 per share.

The deal, expected to close in 2017, has an enterprise value of $ 1.4 billion.

Charlotte, North Carolina-based Red Ventures’ investors include Silver Lake Partners and General Atlantic.

J.P. Morgan is Bankrate ‘s financial adviser and Wachtell, Lipton, Rosen & Katz is the legal adviser.

Bank of America, Barclays, Citigroup, Credit Suisse, Fifth Third Bancorp, Mitsubishi UFJ and PNC Financial are acting as financial advisers to Red Ventures, and are providing debt financing to the company.

Simpson Thacher & Bartlett LLP is Red Ventures’ legal adviser.

Ray Pierce

Ray Pierce

Ray Pierce is a Senior Market Analyst. He has been covering Asian stock markets for many years.

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