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Posted August 3rd, 2021 for Houlihan Lokey
Transaction Valued at approximately $591 million
NEW YORK ( ) Houlihan Lokey (NYSE:HLI), the global investment bank, and GCA Corporation (“GCA”) (TSE:2174), today announced that they have entered into a definitive agreement, dated as of August 3, 2021 (local time in Tokyo), under which Houlihan Lokey will commence a tender offer to acquire GCA for a total cash purchase price of approximately ¥65 billion, or approximately $591 million, based on an assumed exchange rate of ¥110 per $1.
Under the terms of the agreement, which has been unanimously approved by the Houlihan Lokey Board of Directors and the GCA Board of Directors, Houlihan Lokey will commence a tender offer in Tokyo on August 4, 2021 to acquire all outstanding shares of GCA for ¥1,380 ($12.55) per share in cash, in addition to all stock options of GCA (priced to net out applicable exercise prices). The purchase price represents a 31.3% premiu ....

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