TPG (NASDAQ:TPG), an alternative asset management firm, on Monday agreed to acquire Angelo Gordon in a cash and equity transaction valued at ~$2.7B, a move that broadens TPG’s business with an alternative investment firm focused on credit and real estate investing.
The deal consideration is comprised of an estimated $970M in cash and up to 62.5M common units of TPG Operating Group and restricted stock units of TPG (TPG), all of which are subject to certain adjustments. The deal also includes an earnout based on Angelo Gordon’s future financial performance, valued at up to $400M.
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