Hilton Grand Vacations to acquire Bluegreen Vacations for $75.00 per share in cash

Hilton Grand Vacations Inc.

HGV will acquire all Bluegreen shares for $75.00 cash per share, valuing the deal at ~$1.5B.
Transaction requires Bluegreen stockholder approval, HSR antitrust clearance; expected to close by May 5, 2024 (extendable to Aug 5, 2024).
HGV obtained $1.8B in financing commitments ($900M term loan + $900M bridge facility) from Bank of America, Deutsche Bank, Barclays, JPMorgan.
HGV amended its Hilton license agreement to integrate Bluegreen properties, with gradual royalty ramp-up over four years post-close.
Key stockholders Alan B. Levan and John E. Abdo agreed to vote their shares in favor of the merger.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Hilton Grand Vacations Inc. entered into Agreement and Plan of Merger with Bluegreen Vacations Holding Corporation (effective 2023-11-05).

Action: entry
Agreement: merger
Counterparty: Bluegreen Vacations Holding Corporation
Effective: 2023-11-05

Exact text from the filing

On November 5, 2023, Hilton Grand Vacations Inc. (“HGV”), Heat Merger Sub, Inc., an indirect wholly-owned subsidiary of HGV (“Merger Sub”), and Bluegreen Vacations Holding Corporation (“Bluegreen”), entered into an Agreement and Plan of Merger (the “Merger Agreement”).

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Hilton Grand Vacations Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-271642

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