- Highly accretive merger is expected to deliver a run rate of $1 billion in Adjusted EBITDA by the end of 2024, and $300 million in annual EBITDA synergies by year three.
- All-stock transaction values ironSource at approximately $4.4 billion, representing a 74% premium to the 30-day average exchange ratio.
- Unity Board authorizes a share buyback program of up to $2.5 billion effective upon closing of the transaction.
- Silver Lake and Sequoia, the two largest Unity shareholders, have committed to investing an aggregate $1 billion in Unity in the form of convertible notes to be issued at closing of the transaction.
- ironSource reaffirms second quarter and full-year 2022 guidance provided during its first quarter earnings call; Unity expects second quarter financial results to be slightly higher than the top end of the guidance range provided during its first quarter earnings call; Unity reduces full-year 2022 revenue guidance from $1,350 – $1,425 million to $1,300 – $1,350 million.
Flowers Foods To Acquire Papa Pita Bakery, No Terms Disclosed
Flowers Foods, Inc. (NYSE:FLO), today announced a definitive agreement to acquire Papa Pita Bakery, a manufacturer and distributor of high-quality bagels, tortillas, breads, buns, English muffins, and flat breads. The
