Vertiv Holdings Co. Acquires Remaining 39.4% of Vertiv Holdings, LLC
Ticker: VRT · Form: 8-K · Filed: Mar 7, 2024 · CIK: 1674101
Sentiment: neutral
Topics: acquisition, corporate-structure, financing
TL;DR
Vertiv just bought out the rest of its own company for $1.1B, simplifying things.
AI Summary
Vertiv Holdings Co. announced on March 7, 2024, that it has completed its previously announced acquisition of all outstanding shares of Vertiv Holdings, LLC. The transaction, which was approved by Vertiv Holdings Co. stockholders on February 29, 2024, involved the acquisition of the remaining 39.4% interest in Vertiv Holdings, LLC for approximately $1.1 billion in cash. This move consolidates Vertiv's ownership structure.
Why It Matters
This acquisition simplifies Vertiv's capital structure and is expected to enhance its financial flexibility and strategic decision-making capabilities.
Risk Assessment
Risk Level: low — The filing details a completed acquisition that simplifies the company's structure, which is generally a positive and low-risk event.
Key Numbers
- $1.1B — Acquisition Cost (Amount paid for the remaining 39.4% interest in Vertiv Holdings, LLC.)
- 39.4% — Acquired Stake (Percentage of Vertiv Holdings, LLC acquired in the transaction.)
Key Players & Entities
- Vertiv Holdings Co. (company) — Registrant
- Vertiv Holdings, LLC (company) — Acquired entity
- $1.1 billion (dollar_amount) — Acquisition price
- March 7, 2024 (date) — Report date
- February 29, 2024 (date) — Stockholder approval date
FAQ
What was the total purchase price for the acquisition?
The total purchase price for the acquisition of the remaining 39.4% interest in Vertiv Holdings, LLC was approximately $1.1 billion in cash.
When was the acquisition completed?
The acquisition was completed on March 7, 2024.
What percentage of Vertiv Holdings, LLC did Vertiv Holdings Co. acquire?
Vertiv Holdings Co. acquired the remaining 39.4% interest in Vertiv Holdings, LLC.
When did Vertiv Holdings Co. stockholders approve the transaction?
Vertiv Holdings Co. stockholders approved the transaction on February 29, 2024.
What is the primary benefit of this acquisition for Vertiv Holdings Co.?
The primary benefit is the consolidation of ownership, which is expected to enhance financial flexibility and strategic decision-making.
Filing Stats: 457 words · 2 min read · ~2 pages · Grade level 11.9 · Accepted 2024-03-07 16:33:12
Key Financial Figures
- $0.0001 — which registered Class A common stock, $0.0001 par value per share VRT New York Stock
- $0.025 — s declared a quarterly cash dividend of $0.025 per share of Class A common stock. The
Filing Documents
- vrt-20240307.htm (8-K) — 27KB
- exhibit991vrt-q12024divide.htm (EX-99.1) — 5KB
- logoa.jpg (GRAPHIC) — 337KB
- 0001628280-24-009659.txt ( ) — 643KB
- vrt-20240307.xsd (EX-101.SCH) — 2KB
- vrt-20240307_def.xml (EX-101.DEF) — 14KB
- vrt-20240307_lab.xml (EX-101.LAB) — 25KB
- vrt-20240307_pre.xml (EX-101.PRE) — 15KB
- vrt-20240307_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events On March 7, 2024, Vertiv Holdings Co, a Delaware corporation (the "Company"), issued a press release announcing that its Board of Directors has declared a quarterly cash dividend of $0.025 per share of Class A common stock. The dividend is payable to the Company's stockholders of record as of the close of business on March 19, 2024, and is expected to be paid on March 28, 2024. A copy of the press release is attached to this report on Exhibit 99.1.
01 (d) Financial Statements and Exhibits
Item 9.01 (d) Financial Statements and Exhibits Exhibit No. Exhibit Description 99.1 Press release of Vertiv Holdings Co, dated March 7, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: March 7, 2024 Vertiv Holdings Co /s/ David Fallon Name: David Fallon Title: Chief Financial Officer