Big 5 Sporting Goods Co.

Big 5 Sporting Goods was merged with a consortium of Worldwide Golf/Worldwide Sports Group and the Capitol Hill Group to become a wholly owned subsidiary of the buyer. Shareholders receive a cash payment of $1.45 per share, roughly 36% above the volume-weighted 60-day average price prior to the announcement. The company recently reported declining revenue ($763 million, -8%) and a negative EBITDA of $53 million. After closing, the common stock will be removed from NASDAQ and Big 5 will be maintained as a standalone retail business within the portfolio. » More on de.investing.com

Big 5 Sporting Goods was fully acquired by Worldwide Sports Group and is now a wholly owned subsidiary. Each outstanding common share was (with exceptions) converted into a cash claim of USD 1.45 per share; options and restricted shares were also redeemed for cash. The company paid off the credit facility at Bank of America with merger proceeds, released liens, and reports previously high indebtedness of USD 348.88 million. Big 5 has requested a suspension of trading and is initiating the delisting process with NASDAQ; registration and reporting obligations are expected to be terminated thereafter. » More on de.investing.com

Big 5 Sporting Goods is being acquired in an all-cash deal by a partnership between Worldwide Golf and Capitol Hill Group for approximately 112.7 million US dollars. Shareholders will receive 1.45 US dollars per share, representing a 36% premium over the average share price, and the company will be delisted after the transaction is completed. Despite ongoing financial challenges and store closures, Big 5 is expected to continue operating as an independent company within the Capitol Hill Group portfolio. » More on de.investing.com