(July 28 – 09:30 ET) – Amvescap PLC and Trimark Financial Corp. today released the final financial terms for their merger.
Amvescap will pay $2.7 billion for Trimark’s 98.4 million shares, with about $738 million in cash, $1.28 billion in 6% equity subordinated debentures and 26.4 million Amvescap shares. The merger is expected to close Aug. 1. Amvescap will also issue about 3.1 million replacement options to Trimark optionholders who did not conditionally exercise their options.
Trimark shareholders who choose Amvescap shares will receive approximately 1.05082 shares and $1.57406 in cash for each Trimark common share.
Shareholders opting to take the debentures will receive approximately 0.02555 debentures, 0.05656 exchangeable shares and $0.08472 in cash. Investors can also take straight cash. No fractional shares or debentures will be issued and a cash amount will be paid in lieu of fractions, the companies said.
-IE Staff