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Cover Page |
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1. TRANSACTION SUMMARY |
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Apex Industrial Corp. /
Meridian Technologies Inc. ($ in millions) |
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KEY TRANSACTION METRICS |
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Acquirer |
Target |
Pro Forma |
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Company Name |
Apex Industrial
Corp. |
Meridian
Technologies Inc. |
Apex-Meridian Combined |
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Ticker / Identifier |
APEX |
MRDN |
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Current Share Price ($) |
$85.00 |
$42.00 |
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Shares Outstanding (mm) |
250.0 |
120.0 |
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Market Capitalization ($mm) |
$21,250.0 |
$5,040.0 |
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Plus: Total Debt ($mm) |
$3,200.0 |
$1,500.0 |
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Less: Cash & Equivalents ($mm) |
$1,800.0 |
$800.0 |
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Enterprise Value ($mm) |
$22,650.0 |
$5,740.0 |
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LTM Revenue ($mm) |
$12,500.0 |
$5,200.0 |
$17,700.0 |
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LTM EBITDA ($mm) |
$2,800.0 |
$1,150.0 |
$3,950.0 |
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LTM EBIT ($mm) |
$2,100.0 |
$850.0 |
$2,950.0 |
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LTM Net Income ($mm) |
$1,400.0 |
$560.0 |
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LTM EPS ($) |
$5.60 |
$4.67 |
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LTM EBITDA Margin (%) |
22.4% |
22.1% |
22.3% |
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EV / Revenue |
1.8x |
1.1x |
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EV / EBITDA |
8.1x |
5.0x |
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P / E Ratio |
15.2x |
9.0x |
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OFFER DETAILS |
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Offer Price per Share ($) |
$55.00 |
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Premium to Current Price (%) |
31.0% |
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Equity Value Offered ($mm) |
$6,600.0 |
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Plus: Net Debt Assumed ($mm) |
$700.0 |
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Implied Enterprise Value ($mm) |
$7,300.0 |
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Implied EV / LTM Revenue |
1.4x |
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Implied EV / LTM EBITDA |
6.3x |
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Implied P / E Ratio |
11.8x |
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CONSIDERATION MIX |
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% of Total |
Amount ($mm) |
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Cash Consideration |
60.0% |
$3,960.0 |
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Stock Consideration |
40.0% |
$2,640.0 |
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Total Equity Consideration |
100.0% |
$6,600.0 |
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Exchange Ratio (shares) |
0.2588x |
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New Shares Issued (mm) |
31.1 |
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Pro Forma Acquirer Shares (mm) |
281.1 |
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Acquirer Ownership (%) |
88.9% |
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Target Ownership (%) |
11.1% |
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Note: All financial data
in USD millions unless otherwise specified. Blue font = editable inputs.
Metrics based on LTM actuals. |
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Source: Sample data for
illustrative purposes — replace with actual company financials and market
data. |
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