A unit of private equity firm GTCR is buying Global Traffic Network, a provider of custom traffic and news reports to radio and television stations outside the U.S. As per the deal, Global stockholders will get $14 in cash for each share of Global’s common stock, valuing the deal at $267 million, adds The Wall Street Journal.
Post the transaction, which is expected to be completed by the fourth quarter of 2011, Global will become a private company, controlled by the affiliate of GTCR. Moelis & Company and Milbank, Tweed, Hadley & McCloy are advising the special committee of the board of directors of the company, while Latham & Watkins is advising the buyer.
Click here for the release from Business Wire.
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