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Endurance plans new debt financing for buyout by Clearlake Capital
By Sara Rosenberg
New York, Nov. 2 – Endurance International Group Holdings, Inc. plans on getting new debt financing to help fund its acquisition by Clearlake Capital Group, LP, according to a news release.
JPMorgan, BofA Securities, Inc., Deutsche Bank Securities Inc. and UBS Investment Bank provided the debt financing commitment.
Other funds for the transaction will come from equity.
Under the agreement, Endurance is being bought for $9.50 per share in cash. The transaction is valued at about $3 billion, including outstanding debt.
Closing is expected in the first quarter of 2021, subject to approval by Endurance shareholders and customary conditions.
Endurance is a Burlington, Mass.-based provider of cloud-based platform solutions designed to help small and medium-size businesses succeed online.
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