KKR to acquire debt affiliate

Publicly traded specialty finance company KKR Financial Holdings is already managed externally by KKR.

Kohlberg Kravis Roberts (KKR) and KKR Financial Holdings (KFN) have entered into a definitive merger agreement in which KKR will acquire KFN for $2.6 billion.

KFN, which is publicly traded on the New York Stock Exchange, is a specialty finance company that is already externally managed externally by KKR. KKR will acquire the company through its balance sheet for an implied per-share price of $12.79, a 35 percent premium over KFN’s $9.45 close Monday, according to DealBook.

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