ATSG Soars After All-Cash Acquisition by Stonepeak Confirmed (1)

(Adds stock move.)

Air Transport Services Group shares soar as much as 27%, the most intraday since March 2010, after the company confirms it will be acquired by Stonepeak in an all-cash transaction with an enterprise valuation of about $3.1 billion.

• Purchase price of $22.50 per share in cash
• Premium of about 29.3% over November 1 closing price
  • Premium of 45.5% over volume-weighted average price over the prior ninety trading days
• Committed equity financing from funds affiliated with Stonepeak and fully committed debt financing
• Not subject to a financing condition
• Includes a “go-shop” period for a period of 35 days ...