Tuesday, 28 April 2015
Last updated 11 hours ago
Dec 17 2013 | 10:56am ET
Kohlberg Kravis Roberts is bringing its publicly-traded corporate-debt management business fully in house.
The private-equity giant will acquire KKR Financial Holdings as part of an all-stock deal valuing the company at $2.6 billion. KFN shareholders, who must approve the deal, will receive 0.51 KKR shares for each share of the specialty-finance company, a 35% premium to yesterday's closing price.
"Through this transaction, we are acquiring a business with a fully invested, complementary portfolio of assets while increasing the scale and diversity of KKR's balance sheet," KKR co-founders Henry Kravis and George Roberts said.
The deal is expected to close in the first half of next year.
KKR created KFN in 2004, six years before it went public itself.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…