Onex, BPEA to list Clarivate Analytics in $4.2 bln merger deal
Canadian private equity firm Onex Corp and Baring Private Equity Asia (BPEA) have agreed to publicly list Clarivate Analytics, a Philadelphia-based owner and operator of subscription-based businesses. Clarivate will list on the New York Stock Exchange as a result of its merger with Churchill Capital Corp. The deal, expected to close in Q2 2019, implies an enterprise value of about US$4.2 billion. Onex and BPEA will retain their equity, which converts to about 74 percent ownership of the combined entity's outstanding shares at closing. Clarivate was launched in 2016 with the US$3.55 billion acquisition by Onex and BPEA of Thomson Reuters' intellectual property and science unit.
14 January 2019•5 mins read
