Shares of Marlin Business Services (MRLN) skyrocketed 65% the past week. The company announced that it has entered into a definitive agreement to be acquired by HPS Investment Partners.
According to the agreement, through its European Asset Value Funds, HPS will acquire all of the company’s outstanding shares of common stock in an all cash transaction for $23.50 per share, as potentially subject to downward adjustment discussed below, which represents a 65% premium over the closing price of Marlin’s common stock of $14.24 on April 16, 2021.
HPS is a leading global investment firm with $68 billion of assets under management as of March 2021. HPS manages various strategies across the capital structure including through its European Asset Value Funds equipment leasing platforms with approximately $4 billion of leases.