By Benjamin Horney (March 8, 2022, 1:40 PM EST) — Canadian packaging maker Intertape Polymer Group Inc. will be taken private by Clearlake Capital Group LP in a deal with an enterprise value of 2. $6 billion and built by four law firms, the companies announced Tuesday.
The all-cash deal provides for IPG to be purchased by a Santa Monica, Calif.-based subsidiary of Clearlake at a price of C$40.50 ($31.49) per share, according to a statement. Including debt, the agreement puts the target at $2.6 billion. The price per share represents a premium of approximately 66% to IPG’s average price over the last 30 days. The deal will be…
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