Ardian agrees to acquire PRGX Global Inc

Ardian has entered into a definitive agreement to buy pay service provider PRGX Global Inc. for $195 million in cash. PRGX shares rose 4.6% to $7.70 at the close on Thursday.

The deal is led by Ardian’s North America Direct Buyouts team. Following the transaction, PRGX Global will operate as a privately-held company, pending approval from the board.

According to the terms of the deal, the private investment house will pay PRGX Global (PRGX) shareholders $7.71 per share in cash for each share of PRGSX’s common stock representing a premium of 32.7% to the stock’s volume-weighted average price for the 90 trading days preceding the announcement of the transaction.

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