SoftBank Group to Acquire Fortress Investment Group for $3.3 Billion

Business Wire press release -----SoftBank Group Corp. ("SoftBank" or "SBG") and Fortress Investment Group LLC (NYSE:FIG) ("Fortress") announced that they have entered into a definitive merger agreement under which SoftBank will acquire Fortress for approximately $3.3 billion in cash. Under the terms of the merger agreement, which was unanimously approved by a Special Committee of Independent Directors of Fortress's Board of Directors and Fortress's full Board of Directors, each Fortress Class A shareholder will receive $8.08 per share, which represents a premium of $38.6% to the closing price of Fortress Class A common stock on February 13, 2017, and a premium of 51.2% to Fortress's 3-month volume-weighted average price, excluding dividends. In addition, each Fortress Class A shareholder may receive up to two regular quarterly dividends prior to the closing, each in an amount not to exceed $0.09 per Class A Share. Fortress plans to maintain its current base dividend of $0.09 per share for the fourth quarter of 2016 and, if closing does not occur prior to the applicable payment date, for the first quarter of 2017. For more on SoftBank Group to acquire Fortress Investment Group for $3.3 billion click on the picture below to read the release.