Under the terms of the agreement, Blackhawk stockholders will receive USD 45.25 per share in cash upon closing of the transaction, representing a premium of 24.0% over Blackhawk’s closing share price of USD 36.50 on January 12, 2018 and a premium of 29.3% over the average closing share price during the 90 calendar days ended January 12, 2018.
Blackhawk operates a physical and digital gift card and prepaid payments network that connects more than 1,000 brands to over 244,000 retail distribution locations and online channels.
Upon completion of the transaction, Blackhawk will operate as a private company under the leadership of the current management team. Blackhawk’s Board of Directors has unanimously approved the definitive merger agreement and recommends that stockholders vote in favor of the transaction.
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