CDK Global jumps on $6.41 bln sale to Brookfield

Brookfield Business Partners LP

07/04/2022 12:49

** Shares of CDK Global Inc  CDK.O  soar 10.6% to $54.20
premarket - on pace to open at a near one-year high    
    ** CDK, which makes retail technology and software for
retailers and auto manufacturers, to be acquired by private
equity firm Brookfield Business Partners for $6.41
bln urn:newsml:reuters.com:*:nL3N2W528H
    ** Brookfield's offer price of $54.87 per share in cash is
at a 30% premium to stock's closing price on Feb. 18, the last
trading day prior to market speculation about a potential sale
of co
    ** Enterprise value of deal is $8.3 bln 
    ** Up to to Wednesday's close, CDK had lost 9.2% of its
value in the last 12 months
    

 (Reporting by Uday Sampath in Bengaluru)
 ((UdaySampath.Kumar@thomsonreuters.com; within U.S.+1 646 223
8780; Twitter: https://twitter.com/sampath_uday  ;))