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Synnex acquires Convergys for $2.43B

Published 06/28/2018, 05:07 PM
© Reuters.  Synnex acquires Convergys for $2.43B
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  • Synnex (NYSE:SNX) confirms earlier reports that it has acquired Convergys (NYSE:CVG) for $2.43B.
  • The deal is for $26.50/share including $13.25/share in cash and 0.1193 Synnex common shares for each Convergys common stock share.
  • Cost synergies expected of $50M in the first year, achieving a minimum of $150M by the third year.
  • Synnex expects non-GAAP EPS accretion of mid-single digits in the first year, up to double-digits by the second year.
  • Synnex shares are down 2.9% aftermarket to $103.70.
  • Convergys shares are down 0.3% to $25.30.
  • Previously: Convergys up 6% on report of sale (June 28)
  • Now read: Income Investors Need To Take A Close Look At Iron Mountain (NYSE:IRM)


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