Why Weber (WEBR) Shares Are Surging Today

Weber Inc WEBR has entered into a definitive merger agreement by which investment funds managed by BDT Capital Partners LLC will purchase all of the outstanding Shares for $8.05 per share.
The total enterprise value of the deal will be $3.7 billion.
The purchase price represents a premium of 60% to the closing price of the shares on October 24, 2022, the last trading day before the proposal was disclosed.
"We appreciate the Special Committee's comprehensive evaluation of BDT's offer and are confident that this transaction provides immediate and fair value to Weber minority shareholders," said interim CEO Alan Matula.
Under the transaction agreement, BDT managed investment funds will provide Weber with an additional unsecured loan facility in the aggregate principal amount of $350 million.
Weber intends to utilize the loan for general corporate purposes, including repaying existing indebtedness.
Weber will become a privately held company majority owned by investment funds managed by BDT. The transaction is expected to close in the first half of 2023.
Price Action: WEBR shares are trading higher by 22.4% at $7.96 in premarket on the last check Monday.
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