Brief: Magnite Says To Acquire SpotX From RTL Group For $1.17 Bln In Cash And Stock

RTL SA

05/02/2021 07:16

Feb 5 (Reuters) - Magnite Inc  MGNI.O :
    * MAGNITE TO ACQUIRE SPOTX
    * DEFINITIVE AGREEMENT TO ACQUIRE SPOTX FROM RTL GROUP FOR $1.17 BILLION IN CASH AND STOCK
    * PURCHASE PRICE CONSISTS OF $560 MILLION IN CASH AND 14 MILLION SHARES OF MAGNITE STOCK,
FOR A
TOTAL OF $1.17 BILLION
    * MAGNITE - TARGETING IN EXCESS OF $35MLN IN RUN-RATE OPERATING COST SYNERGIES, WITH MORE
THAN
HALF OF SYNERGIES REALIZED WITHIN 1ST YEAR OF COMBINATION
    * COMPANY EXPECTS TRANSACTION TO CLOSE IN Q2 OF 2021

Source text for Eikon:  ID:nBw4qWb9ga 
Further company coverage:  MGNI.O 

 ((Reuters.Briefs@thomsonreuters.com;))