Groupon Seeks a Buyer, Canada Pension Fund Acquires Sportradar

Mukesh Buch
09 Jul, 2018
New York City

Canada Pension Plan and TCV agreed to acquire Sportradar for $2.4 billion. Helen of Troy net surged. Vista Outdoor agreed to sell its eyewear brands for $158 million.

[R]1:00 PM New York City, New York – Canada Pension Plan and TCV agreed to acquire Sportradar for $2.4 billion. Helen of Troy net surged. Vista Outdoor agreed to sell its eyewear brands for $158 million.[/R]

Tollbooth Index jumped 192.81 or 1.3% to 15,295.60 and for the year-to-date soared 11.2%.

Earnings Review

Citizens Inc ((CIA)) gained 1.1% or 1 cent to $7.88 ahead of the life insurer’s scheduled earnings results after the market close today.

Canada Pension Plan Investment Board ((CPPIB)), Canada-based investment manager and private equity firm TCV will acquire stake in a Sportradar at an enterprise value of about $2.4 billion or €2.1 billion including debt.

The transaction is expected to close in the fourth-quarter of this year.

Groupon Inc ((GRPN)) soared 6.6% or 27 cents to $4.62 on report that the online shopping, travel and goods and services provider has stepped up its efforts to fund a buyer.

Helen of Troy Limited ((HELE)) surged 14.3% or $14.78 to $116.53 after Bermuda-based consumer, healthcare and home products provider reported revenues in the first-quarter ending in First-quarter ending in May soared 9% from a year ago to $354.7 million.

Net income in the quarter surged to $37.8 million or $1.42 per diluted share from $5.9 million or 22 cents in the same quarter last year.

The consumer products maker forecasted fiscal 2019 revenues growth of 0.4% to 2.1% or in the range of $1.49 billion to $1.51 billion and diluted earnings per share in the range of $6.27 to $6.42 and capital expenditures in the range of $30 million to $35 million.

Vista Outdoor Inc ((VSTO)) rose 3 cents to $16.60 after the outdoor sports and recreation products agreed to sell its eyewear brands Bolle, Cebe and Serengeti to the European private equity fund Antelope Brands Bidco, Inc for about $158 million.

The transaction is expected to close within approximately 30 to 45 days.