Banking Recap

M&A Transaction Announced for $282.0M

This deal is a cash-and-stock acquisition of a controlling stake, involving Beat Capital Partners Limited and Ambac Financial Group, Inc., with Bain Capital also named in the legal advisor disclosures as an affiliated party on the Beat side. The facts block does not explicitly label which entity is the target and which is the acquirer, nor does it provide a sector classification. The transaction is classified under the M&A product group, with a disclosed value of $282,000,000.

Jun 5, 2024·SEC EDGAR (8-K)·pending regulatory·cash-and-stock acquisition of controlling stake

Deal value

The facts block is sourced from a single SEC filing: an 8-K filed with SEC EDGAR and published on June 5, 2024. The deal's current status is pending regulatory approval.

On the financial advisory side, UBS Investment Bank served as Ambac's financial advisor, labeled in the facts block as representing the acquirer side, with no lead designation specified. Evercore served as Beat's financial advisor, labeled as representing the target side, also without a lead designation specified.

Legal counsel was also disclosed for both sides. Debevoise & Plimpton LLP served as legal counsel to Ambac, the acquirer side. RPC served as legal counsel to Beat and Bain Capital, the target side.

Beyond the cash-and-stock characterization of the consideration for the controlling stake and the disclosed $282,000,000 value, the facts block does not specify the split between cash and stock or the percentage of the controlling stake being acquired.

Several facts are not disclosed in the source material. The facts block does not clearly state which party, Ambac or Beat, is the target versus the acquirer in conventional M&A terms, nor does it specify the exact cash/stock split of the consideration or the percentage ownership stake involved. No expected closing date is given, and no sector classification is provided.