Fox Corp completes acquisition of 67% of Credible Labs
Fox Corporation (Nasdaq: FOXA, FOX) announced today that it has completed its acquisition of 67% of the equity of Credible Labs Inc. (ASX: CDR) effective October 17, 2019.
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Shares of Credible were suspended from trading on the Australian Stock Exchange (ASX) on October 16, 2019 (AEST) and Credible will be delisted from the ASX on October 18, 2019 (AEST).
The completion of the transaction follows the satisfaction of all customary closing conditions, including approval of the merger by Credible stockholders.
Each Credible CDI holder of record at closing is entitled to receive A$2.21 in cash per CDI, and each holder of common stock in Credible of record at closing is entitled to receive A$55.25 per share.
Kirkland & Ellis LLP and Herbert Smith Freehills served as U.S. and Australian legal counsel, respectively, to Fox Corporation.