Brief: Southland Holdings, Legato Merger Corp II Announce Merger

Southland Holdings

25/05/2022 22:01

May 25 (Reuters) - Legato Merger II Corp  LGTO.O :
    * SOUTHLAND HOLDINGS AND LEGATO MERGER CORP. II ANNOUNCE
MERGER
    * LEGATO MERGER II CORP - SOUTHLAND'S HOLDERS WILL RECEIVE A
COMBINATION OF CASH AND STOCK VALUED AT UP TO $498 MILLION
    * LEGATO MERGER II CORP - SOUTHLAND'S EXISTING HOLDERS WILL
RECEIVE $343 MILLION OF LEGATO II COMMON STOCK AND $50 MILLION
IN CASH AT CLOSING
    * LEGATO MERGER II CORP - DEAL IMPLIES A PRO FORMA
ENTERPRISE
VALUE OF $810 MILLION FOR COMBINED CO
    * LEGATO MERGER II-AS WHOLLY-OWNED SUBSIDIARY OF LEGATO II,
SOUTHLAND WILL EXECUTE GROWTH STRATEGIES UNDER LEADERSHIP OF
SOUTHLAND'S CURRENT MANAGEMENT
    * LEGATO MERGER II CORP - TRANSACTION IS EXPECTED TO ADD
$220
MILLION OF CASH TO SOUTHLAND'S BALANCE SHEET
    * LEGATO MERGER II - AT CLOSE, SOUTHLAND CURRENT HOLDERS &
MANAGEMENT TEAM TO HOLD ABOUT 55% OF LEGATO II'S OUTSTANDING
COMMON STOCK

Source text for Eikon:  ID:nGNXbbvjLn 
Further company coverage:  LGTO.O