- Hyatt Hotels Corp (NYSE:H) has announced a public offering of 7 million shares of its Class A common stock. The company will also grant the underwriters a 30-day option to buy up to an additional 1 million shares.
- Hyatt expects to use the offering net proceeds to fund a portion of the purchase price for its pending acquisition of Apple Leisure Group.
- Related Content: Hyatt Hotels To Acquire Resort Management Company Apple Leisure Group For $2.7B.
- The company had previously announced that it intends to fund more than 80% of the purchase price with a combination of $1.0 billion of cash on hand and new debt financing and the remainder with equity financing.
- Price Action: H shares are trading lower by 2.35% at $71.95 in premarket on the last check Wednesday.
B of A Securities Maintains Underperform on FactSet Research Systems, Raises Price Target to $310
B of A Securities analyst David Chu maintains FactSet Research Systems (NYSE:FDS) with a Underperform and raises the price target from $295 to $310.
