2023-03-24 16:48:27 BGRY Berkshire Grey
SoftBank Group
03/24/23 03/2416:48 03/24/2316:48 | Berkshire Grey enters merger agreement with SoftBank GroupBerkshire Grey (BGRY) announced that the company has entered into a definitive merger agreement with SoftBank Group (SFTBY) and its affiliate. Under the agreement, SoftBank will acquire all of the outstanding capital stock of the company not currently owned by SoftBank for $1.40 per share in an all-cash transaction valued at approximately $375M. SoftBank, a strategic investment holding company with stakes in AI, smart robotics, IoT, telecommunications, internet services, and clean energy technology providers, has been an investor in Berkshire Grey since 2019. The agreement, which has been unanimously approved by Berkshire Grey's board of directors and represents a premium of approximately 24% to the closing stock price as of March 24, the last trading day prior to the date of this announcement. The transaction is not subject to a financing condition and is expected to close in the third quarter of 2023, subject to the satisfaction of customary closing conditions, including the approval of Berkshire Grey's stockholders and regulatory approvals. Berkshire Grey
SoftBank Group
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