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Outerwall plans financing via four banks for buyout by Apollo
By Sara Rosenberg
New York, July 25 – Outerwall Inc. plans on getting new financing led by Bank of America Merrill Lynch, Jefferies Finance LLC, Barclays and Credit Suisse to help fund its acquisition by Apollo Global Management LLC, according to a news release.
Under the agreement, Outerwall stockholders will receive $52.00 per share in cash. The transaction has a total enterprise value of about $1.6 billion, including net debt.
Closing is expected during the third quarter, subject to satisfaction of a minimum tender condition, the receipt of regulatory approvals and other customary conditions.
Outerwall is a Bellevue, Wash.-based provider of retail products and services via self-service interactive kiosks.
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