Simpson Thacher is representing Red Ventures in connection with its announced acquisition of Bankrate, Inc. (NYSE: RATE) for $14 per share in an all-cash transaction valued at approximately $1.4 billion. Completion of the transaction is subject to customary closing conditions, including the receipt of regulatory approval and the approval of Bankrate’s shareholders, and is expected to close in 2017.
Bankrate is a leading online publisher, aggregator, and distributor of personal finance content. Bankrate’s flagship sites include CreditCards.com, Bankrate.com and Careing.com. Bankrate also owns and operates a number of specialist sites, apps and social platforms, including NextAdvisor.com, The Points Guy, Interest.com, Quizzle.com and Walla.by.
Red Ventures is a leading digital consumer choice platform based in Charlotte, North Carolina. Through deeply integrated brand partnerships and consumer-facing assets, Red Ventures connects online customers with products and services across high-growth industries including home services, financial services, and healthcare.
The Simpson Thacher team includes Bill Dougherty, Matthew Rogers, Elizabeth Romefelt and Ashley Yoon (M&A); Jennifer Hobbs, Matthew Farrell, Jessie Chen and Chance Goldberg (Banking and Credit); Ken Wallach and Hui Lin (Capital Markets); Tristan Brown and Paul Barrus (Executive Compensation and Employee Benefits); Sophie Staples (Tax); Peter Guryan and John Goheen (Antitrust); Lori Lesser, Kate Stein and Cecillia Xie (Intellectual Property); and Michael Isby (Environmental). Summer Associates Christine Dai and John Tienken also provided valuable assistance.