December 10, 2015 – Blount International, Inc. today announced that it has entered into a definitive agreement to be acquired by affiliates of American Securities LLC and P2 Capital Partners, LLC in an all-cash transaction valued at approximately $855 million, including the assumption of debt. Cravath, Swaine & Moore LLP is representing Blount in connection with this proposed transaction.
Under the terms of the proposed transaction, Blount shareholders will receive $10.00 in cash for each share of Blount common stock they hold, which represents a premium of 86% to Blount's closing stock price on December 9, 2015.
The Cravath team is being led by partners George E. Zobitz and Andrew R. Thompson and includes associates Brendan R. Mahan, Paul L. Sandler, Lee M. Blum and Erim E. Tuc (M&A); partner Eric W. Hilfers, practice area attorney David B. Teigman and associate Michelle M. Garrett (executive compensation and benefits); partner Christopher K. Fargo and associate Sara L. Lykken (tax); partner Matthew Morreale (environmental); and partner David J. Kappos and associate Christopher P. Davis (intellectual property). Peretz Riesenberg and Jason M. Sandler also worked on executive compensation and benefits and intellectual property matters, respectively.