trending Market Intelligence /marketintelligence/en/news-insights/trending/XtiOJj8KHl5ihD4J3CIGgQ2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In this list

Ebix offers to acquire Yatra Online

Digital Banking Battles Will Play Out In Southeast Asias Shopping Cart

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible

Fed Officials Signal Optimism In US Economy Reiterate Rates Likely On Hold

After Curbing Year-End Volatility, Fed Weighs Future Of Repo Operations


Ebix offers to acquire Yatra Online

Ebix Inc. offered to acquire Yatra Online Inc. for $7 per share on a debt-free basis in a deal valued at $336.0 million by S&P Global Market Intelligence.

Ebix said its offer, based on Yatra's approximately 48 million outstanding shares, represents an 84% premium to Yatra's March 8 closing price of $3.80. The letter to Yatra Online's board also offers to assume the company's receivables, cash and restricted cash worth at least $25 million at the time of closing.

In a separate release, Yatra, an Indian online travel agency, acknowledged receipt of the offer and said it would review the proposal with its financial adviser, Citi Group Global Markets, and its legal adviser, Goodwin Procter LLP.

Ebix will offer to pay either in cash or through the issuance of common shares and if it is through stock, then each share will have a minimum collar value of $59. In addition, Ebix will provide Yatra Online shareholders a downside cover, allowing them to sell back Ebix common shares in the 25th month after closing of the deal at a price 10% lower than when the shares were issued to them.

Ebix, which provides on-demand software and e-commerce services to the insurance, financial, healthcare and e-learning sectors, can withdraw the offer if Yatra Online's board does not allow it to conduct due diligence by 5 p.m. EST on March 18.

Should the deal close, Ebix plans to merge Yatra, which provides corporate travel services in India, with its Indian EbixCash subsidiary to provide end-to-end travel services to the insurance services industry.