Q: Hello 5i, Could you comment on the recent all cash transaction by H,I.G. Capital to acquire Converge Technology Solution, Thanks.
5i Research Answer:
The deal is all-cash, friendly, and with few restrictions and at a big premium, with 24% votes already secure. We doubt there will be any competitive government objections, as the company is not that big. There is also a $34M break fee. We would expect this deal to go through, but would be OK holding for a week or so in case any other parties emerge.