Hilton Grand Vacations to Buy Bluegreen in $1.5 Billion Deal (1)

Hilton Grand Vacations Inc. agreed to buy timeshare operator Bluegreen Vacations Holding Corp. in an all-cash deal with a total enterprise value of about $1.5 billion including net debt.

Hilton Grand Vacations is offering $75 for each share of Bluegreen’s Class A and Class B stock, according to a statement Monday. The deal is expected to close during the first half of next year.

Hilton Grand Vacations slumped 8.8% to $33.96 at 11:32 a.m. in New York Monday. Bluegreen shares more than doubled on the news, hitting $73.17. The stock had closed at $35.52 Friday.

The Hilton Grand Vacations and ...