SP Plus to be taken private by Metropolis Technologies for $1.5B
Metropolis Technologies Inc. said Thursday it would pay $54 a share for SP Plus Corp. (SP) in a take-private deal that values the parking facility management company at $1.5 billion. The price amounts to a premium of 52% over the closing share price of SP Plus stock on Tuesday. Metropolis Technologies also said received commitments for $1.7 billion in financing led by Eldridge and 3L Capital, along with new investors including BDT & MSD Partners' affiliated credit funds, Vista Credit Partners, and Temasek. SP Plus's stock is up 2% in 2023, compared to a 26.5% gain by the Nasdaq .
-Steve Gelsi
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10-05-23 0821ET
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