Hilton Grand Vacations falls on plans to buy Bluegreen Vacations, lower Q3 profit

Bluegreen Vacations Holding

06/11/2023 19:33

** Shares of vacation property operator Hilton Grand
Vacations Inc  HGV.N  down 8.4% at $34.11
    ** Co says it would buy peer Bluegreen Vacations  BVH.N  in
a $1.5 billion deal, including debt
    ** Under deal terms, BVH shareholders will get $75 in cash
for each share held 
    ** Separately, HGV reports Q3 adj EPS of $0.98 vs $1.40
reported a year ago
    ** HGV also cut its 2023 adj core earnings forecast to $1
bln to $1.02 bln, from $1.09 bln to $1.12 bln expected earlier
    ** HGV also signs an exclusive 10-yr marketing agreement
with outdoor retailer Bass Pro Shops
    ** HGV shares down 11.6% YTD

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.chaudhary@thomsonreuters.com))