Mergers & Acquisitions ·
Victory Capital Holdings, Inc. entered into a Merger Agreement to acquire First Eagle Holdings, Inc. in a transaction…
VCTRVictory Capital Holdings, Inc.
Victory Capital Holdings, Inc. entered into a Merger Agreement to acquire First Eagle Holdings, Inc. in a transaction valued based on Base Revenue Run-Rate with customary adjustments for indebtedness and client consents. Consideration includes cash, newly issued common stock representing 4.9% of post-closing shares, and Series B Non-Voting Convertible Preferred Stock. The company also secured commitment letters for $3.5 billion in incremental term loans, a $200 million revolving facility, and up to $950 million in bridge financing. Closing is subject to HSR clearance, regulatory approvals, and client consent thresholds representing at least 75% of Base Revenue Run-Rate. Victory Capital Holdings operates in the asset management industry.