Bakkavor (#BAKK) - Bread & Spread
Recommended Acquisition of Bakkavor Today its been announced that Greencore (LSE:GNC) is acquiring Bakkavor (LSE:BAKK)for a total consideration of circa £1.2BN, with BAKK shareholders receiving; 85p Cash 0.604 New Greencore Shares (at the time of writing = 187p. So 112.94p) 1 Contingent Value Right ( US Sale Special Dividend - exceeds an amount equal 9x EBIDTA) - Dividends Greencore Shares Any sale which you're acquiring shares of another business is always subject to go in your favour or not. Greencore might have company specific problems, such as a profit warning, or wider-market movements such as the on-going concerns about US tariffs. BAKK should take some solace that RNS dated 15th May has GNC upgrading FY guidance. Contingent Value Right (CVR) As part of the deal, BAKK shareholders have a potential to receive cash based on BAKK selling their US operations. Any price achieved above 9x EBIDTA will be paid to BAKK shareholders as way of a special dividend. To work out the 1 ...