Simpson Thacher Represents JPMorgan as Financial Advisor to the Special Committee of the Board of Directors of Midas, Inc. in TBC Corporation’s $310 Million Acquisition of Midas, Inc.
03.13.12
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The Firm is representing J.P. Morgan Securities LLC as financial advisor to the Special Committee of the Board of Directors of Midas, Inc. in connection with TBC Corporation’s acquisition of Midas, Inc. through a cash tender offer at $11.50 per share. The all-cash transaction is valued at approximately $310 million, including the assumption of approximately $137 million in debt and pension liabilities.
Midas, Inc. is one of the world’s largest providers of automotive service, offering brake, maintenance, tires, exhaust, steering and suspension services. TBC Corporation is one of the nation's largest marketers of automotive replacement tires. TBC Corporation is an indirect subsidiary of Sumitomo Corporation, one of Japan's major integrated trading and investment business enterprises.
The Simpson Thacher team includes Marni Lerner and Ariel Oxman (M&A).