Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

General Atlantic and Stone Point to buy HireRight in $1.65bn deal

(Sharecast News) - HireRight said on Friday that it has agreed to be bought by General Atlantic and Stone Point Capital after the private equity firms raised their offer for the employee screening company to $1.65bn. Under the terms of the deal, which is expected to close mid-2024, HireRight shareholders will receive $14.35 per share in cash. In December 2023, the PE firms had offered $12.75 per share for the shares they don't already own.

General Atlantic and Stone Point already own 75% of HireRight.

The price is a 43% premium to the closing share price on 17 November 2023, which was the last trading day prior to when the PE firms indicated they had agreed to work together for a potential deal.

HireRight president and chief executive Guy Abramo said: "We are pleased to have reached this agreement with General Atlantic and Stone Point, which delivers a significant and immediate cash premium to HireRight's unaffiliated stockholders."

At 1450 GMT, the shares were up 9.8% at $14.14.

Share this article

Related Sharecast Articles

Billionaire Issa nearing deal to sell Asda stake to TDR Capital - report
(Sharecast News) - US private equity firm TDR Capital is reportedly closing in on a deal to buy petrol station billionaire Zuber Issa's stake in supermarket chain Asda.
Billionaire Issa nearing deal to sell Asda stake to TDR Capital
(Sharecast News) - Private equity firm TDR Capital is reportedly closing in on a deal to buy petrol station billionaire Zuber Issa's stake in supermarket chain Asda.
DS Smith tumbles as Mondi abandons pursuit
(Sharecast News) - DS Smith tanked on Friday after Mondi said it would not be making an offer for the rival packaging group, clearing the path for a takeover by International Paper.
Eqtec agrees amendment to Verde subscription
(Sharecast News) - Waste-to-energy technology developer Eqtec updated the market on the Verde Corporation subscription on Friday, confirming that an amendment to the subscription letter had been agreed upon with Verde.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.