CreditCards.com owner Bankrate agrees to $1.4 billion buyout

Bankrate Inc., the owner of Austin-based CreditCards.com, has agreed to be acquired by Red Ventures in an all-cash transaction valued at roughly $1.4 billion, the companies announced Monday morning.
The deal would pay Bankrate (NYSE: RATE) shareholders $14 per share, a premium of roughly 31 percent compared with the company’s three-month average closing price. The merger will create a "scaled and diversified digital platform of consumer marketplaces," according to the announcement.
“We’re excited…

#URLinkedUp Austin Business News – Local Austin News | Austin Business Journal http://www.bizjournals.com/austin/news/2017/07/03/creditcards-com-owner-bankrate-agrees-to-1-4.html?ana=RSS%26s=article_search

#Austin Check out URLinkedUp > http://www.urlinkedup.com

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s