Neustar To Be Acquired By Golden Gate-led Group In Deal Valued At About $2.9 Bln

(RTTNews) - Neustar Inc. (NSR), a provider of real-time information services, announced that it has entered into a definitive agreement to be acquired by a private investment group led by Golden Gate Capital in a transaction valued at approximately $2.9 billion, including debt to be refinanced.

As per the terms of the agreement, which was unanimously approved by Neustar's Board of Directors, Neustar's shareholders will receive $33.50 per share in cash. This represents a premium of 45% to Neustar's closing stock price on November 11, 2016, the day prior to Golden Gate Capital's filing of a Form 13F with the SEC disclosing an equity position in Neustar.

An affiliate of GIC will also invest in Neustar and will become a minority owner of the Company following closing of the transaction.

The transaction, which is expected to close no later than the end of the third calendar quarter of 2017, is subject to approval by Neustar's shareholders, regulatory approvals and other customary closing conditions.

Under the terms of the agreement, the Company may solicit alternative proposals from third parties for 30 days. There can be no assurances that this process will result in a superior proposal.