Matterport (MTTR) has issued an announcement.
Matterport, Inc. has announced a definitive merger agreement with CoStar Group, Inc., outlining a two-step acquisition process in which Matterport will first merge with a CoStar subsidiary and then with another, resulting in Matterport becoming a wholly-owned CoStar subsidiary. This strategic move, unanimously approved by both companies’ boards, offers Matterport shareholders cash and CoStar stock per share, dependent on CoStar’s average share price. The merger is subject to customary conditions, including stockholder approval and regulatory clearances, with the potential to reorganize under tax laws based on share price outcomes. Moreover, Matterport executives have agreed to modified severance arrangements in light of the merger. The transaction details are available in a press release and will be further elaborated in upcoming SEC filings.
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