Jul. 16 at 12:51 PM
Distribution Solutions Group has entered into a definitive merger agreement under which affiliates of LKCM Headwater Investments will acquire all outstanding shares not already owned by LKCM Headwater for
$35.00 per share in cash, valuing the minority stake at a substantial premium. LKCM Headwater and its affiliates currently own approximately 79% of the company.
The
$35.00 offer was increased from the initial
$29.50 non-binding proposal made in March and represents an approximately 81% premium to Distribution Solutions' closing price before the proposal became public. An independent special committee unanimously approved the transaction after negotiating the revised terms and recommended that shareholders vote in favor of the deal.
Following the acquisition, Distribution Solutions will become a wholly owned private company and will no longer trade on Nasdaq.
$DSGR