Takeover Bid Led Bluegreen Vacations (BVH) To Rise 106%

Bluegreen Vacations Holding Corporation (NYSE: BVH) witnessed a remarkable surge in its stock price during the preceding trading session. Bluegreen Vacations stock experienced an impressive gain of 106.78% and concluded the day’s trading at $73.45. This substantial upswing in value transpired following the revelation of a takeover bid on Monday.

Bluegreen Vacations (BVH) has entered into a definitive agreement for acquisition by Hilton Grand Vacations Inc. (NYSE: HGV). BVH has formally inked this agreement, stipulating a per share price of $75.00, with the entire transaction to be executed in cash. The deal puts BVH to an aggregate enterprise value of approximately $1.5 billion, encompassing its net debt. Bluegreen Vacations shareholders at the time of the merger will receive $75.00 in cash per share.

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Bluegreen Vacations is widely acknowledged as a preeminent firm in the vacation ownership sector. Headquartered in Boca Raton, Florida, BVH manages 49 Club Resorts and 24 Associate Resorts, diligently developing, marketing, and operating a network of top-tier vacation ownership properties in select U.S. vacation destinations.

The integration of BVH with HGV promises to forge a more captivating vacation ownership proposition, continuing to furnish Bluegreen Vacations’ proprietors and guests with delightful and distinctive experiences in a broader spectrum of world-class destinations.

Bluegreen Vacations boasts a distinguished track record of tangible organic growth, complemented by a devoted customer base comprising over 200,000 members. The company also takes pride in its pivotal partnerships that generate leads, further expanding HGV’s reach and diversifying its tourist influx.

It is anticipated that the management team at HGV, including President and CEO Mark Wang, Chief Financial Officer Dan Mathewes, and Chief Operating Officer Gordon Gurnik, will persist in their current positions within the combined entity upon the successful conclusion of the transaction. This transaction is poised to elevate HGV’s membership base from 525,000 to over 740,000 owners and augment its resort portfolio from 150 to nearly 200 properties. The consummation of this transaction is contingent on the approval of Bluegreen Vacations’ shareholders and the satisfaction of customary closing conditions, including regulatory approvals. BVH envisions finalizing the transaction in the first half of 2024.

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