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CommerceHub to Acquire ChannelAdvisor in Take-Private Transaction
- Client News
- September 6, 2022
Paul, Weiss is advising Insight Partners and its portfolio company CommerceHub, an industry-leading commerce network connecting supply, demand and delivery for the world's leading retailers and brands, on the financing aspects of CommerceHub’s acquisition of ChannelAdvisor, a leading provider of cloud-based e-commerce solutions that enable brands and retailers to increase global sales. Under the terms of the transaction, ChannelAdvisor stockholders will receive $23.10 per share in cash, representing a premium of approximately 57% over the company's closing stock price on September 2, the last full trading day prior to this announcement. Sixth Street Partners and other lenders have agreed to provide debt financing for the transactions in the amount of $385 million, subject to certain terms and conditions.
Upon completion of the transaction, ChannelAdvisor will become a privately held company.
The Paul, Weiss team includes corporate partner David Tarr and counsel Joseph Friedman.