https ://finance.yahoo.com/news/heres-cliff-notes-latest-chapter-175742976.html
Euro Disney SCA (EPA: EDL) (OTC: EUDSF) popped 66.7 percent Friday on news that the Walt Disney Co (NYSE: DIS) would acquire 90 percent of EDL shares held by Saudi Prince Al-Waleed Bin Talal’s Kingdom Holding Company (TADAWUL: 4280). The transaction is expected take place Wednesday through an after-market block trade.
Details Of The Anticipated Transaction
Disney subsidiary EDL Holdings LLC, which has long held Disney’s equity interest in the European franchise, will increase its stake from 76.7 percent to 85.7 percent. Kingdom Holding subsidiary Kingdom 5-KR-11 Ltd. will decrease its hold from 10 percent to 1 percent.
The deal involves a $2.12/share payment in units of Disney’s common stock based on Tuesday’s closing value. Loop Capital Markets explained that, if Disney closes at $109.26 as it did on Friday, the company will pay 1.37 million shares.
Disney will also extend a tender offer for the outstanding 9.3 percent of Euro Disney shares at $2.12 a piece. After the offer, if Euro Disney owns more than 95 percent of shares, Disney will attempt to remove EDL from Euronext.
>relevant?