m_and_a
confidence high
sentiment neutral
materiality 1.00
Hyatt completes acquisition of Playa Hotels & Resorts at $13.50/share for ~$1.4B
Playa Hotels & Resorts N.V.
- Buyer accepted 101.9M shares (82.8%) at Expiration; post-close Hyatt owns 94.3% of Playa.
- Aggregate consideration paid in Offer was approximately $1.4 billion in cash.
- Hyatt funded the acquisition via a $1.7 billion delayed draw term loan facility.
- Board and CEO departures effective at close; three Hyatt executives appointed as new directors.
- Shares to be delisted from Nasdaq; Form 25 filed June 16, Form 15 expected June 26.
item 2.01item 2.03item 3.01item 3.03item 5.01item 5.02