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FGS Global and Kekst CNC handle the $3B takeover of Radius Global Infrastructure by EQT Active Core Infrastructure and Public Sector Pension Investment Board.
The $15 per share cash price is a 31 percent premium over RGI’s average closing price over the past 90 days.
RGI leases cell sites to cellular tower companies and mobile network operators. EQT is a purpose-driven investment group. PSB is one of Canada’s biggest pension investment fund managers.
Bill Berkman, CEO of RGI, said the transaction represents an exciting next step for his company and a great outcome for shareholders as it provides compelling value.
Alex Greenbaum, a partner in EQT Active Core Infrastructure unit, said RGI “is one of the market leaders in the aggregation of digital infrastructure sites and we believe it will benefit from long-term tailwinds supported by growing demand for data.”
FGS Global’s George Sard, Jared Levy and Jim Barron represent RGI, while Kekst CNC’s Daniel Yunger, Shea Maney, William Halliday and Jayson Pitagorsky handle EQT.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
Haggie Partners is working the $7B takeover of the specialty insurer Convex by Canada’s Onex private equity fund and American International Group.
WPP reported Q3 revenues less pass-through costs tumbled 5.9 percent to $3.3B, a performance new CEO Cindy Rose called “unacceptable.”
