Leaf Group to be acquired by Graham Holdings

Graham Holdings

05/04/2021 13:43

** Shares of U.S. online artist marketplaces operator Leaf
Group  LEAF.K  jump 21% to $8.51 premarket; set for best day
since June, if gains hold
    ** Education and media co Graham Holdings Co  GHC.N  to
acquire Leaf at $8.50/shr in an all-cash deal valued at ~$323
mln
    ** Per-share offer represents a premium of ~21% to stock's
last close
    ** Deal expected to close in June or July of 2021 subject to
Leaf shareholders' approval, regulatory approval and
satisfaction of other closing conditions
    ** Leaf's market cap has risen 633.4% to $251.68 mln from a
year ago - Refinitiv data
    ** All 3 brokerages covering the stock rate the stock "buy"
or higher; their median PT is $9
    ** Shares up 51% for the year

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))