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Vector Group (VGR) has provided an announcement.
Vector Group Ltd. announced a merger agreement with JTI (US) Holding Inc. and its subsidiary, where the latter will initiate a tender offer to purchase all outstanding shares of Vector Group at $15.00 per share in cash. The transaction will ultimately result in Vector Group becoming a wholly owned subsidiary of JTI (US) Holding Inc. This strategic move is expected to provide significant cash value to Vector Group’s shareholders and comes with a firm guarantee of all obligations by JT International Holding B.V. Moreover, the agreement includes provisions for handling existing equity awards and sets forth conditions under which the deal may be terminated, including a potential reverse termination fee payable by JTI (US) Holding Inc. under certain circumstances.
For detailed information about VGR stock, go to TipRanks’ Stock Analysis page.
