Brookfield To Commence Tender Offer To Acquire CDK Global

(RTTNews) - CDK Global, Inc. (CDK) has entered into a definitive agreement to be acquired by Brookfield Business Partners, together with institutional partners, for a total enterprise value of $8.3 billion. Brookfield will commence a tender offer to acquire all of the outstanding shares of CDK. CDK shareholders will receive $54.87 per share in cash.

Brian Krzanich, CEO, CDK Global, said: "In consultation with our outside advisors, CDK's Board of Directors carefully evaluated a range of strategic and financial alternatives over several months and determined that this transaction is superior to all other available alternatives."

The transaction is expected to close in the third quarter of 2022.