Fitch Ratings has published the latest issue of its Capital Structure and Covenant Analysis for the 50 Largest U.S. Leveraged Issuers and thr average enterprise value/EBITDA market multiple for the Fitch 50 increased from 11x to 14.7x, far exceeding the average market valuation multiple across all sectors, which decreased from 10.2x to 9.9x.
SRS|Shareholder Representative Services announced the company will operate two affiliated lines of business ” SRS and Acquiom ” under a single parent company: SRS|Acquiom (srsacquiom.com). One line of business, SRS, manages all post closing activity in private M&A transactions to maximize deal value and safeguard the interests of selling shareholders. The global leader in shareholder representation, SRS reached a new milestone in 2013: engagement on a total of 575 deals comprising $86 billion in aggregate deal value since the company’s founding in 2007. SRS represents 58,000 shareholders including 500 of the top venture capital and private equity funds.
Silver Lake and ValueAct Capital have agreed to acquire Acxiom Corporation for $3 billion. Under the terms of the agreement, Acxiom stockholders will receive $27.10 in cash for each outstanding share of stock. This represents a premium of approximately 14 percent over the closing share price on May 16, 2007, the last trading day before disclosure of the agreement with Silver Lake and ValueAct Capital with respect to the acquisition of the company and a premium of approximately 20 percent per share over Acxiom’s average closing price per share during the 30 trading days ended May 16, 2007. The merger agreement provides that Acxiom may solicit and entertain proposals from other companies during the next 60 days. In accordance with the agreement, the board of directors of Acxiom, through the special committee and with the assistance of its independent advisors, intends to actively solicit other proposals during this period. Acxiom Corporation integrates data, services and technology. Silver Lake is an investment firm focused on large scale investments in technology, technology-enabled, and related growth industries.