Thomas Nelson Taken Private
The company is valued at $473 million.
Thomas Nelson
(TNM)
, a publisher of Bibles and Christian materials, said Tuesday that it's being taken private in a deal valuing the company at $473 million.
Private-equity firm InterMedia Partners VII is leading the buyout. Each common share and Class B share of Thomas Nelson is being valued at $29.85 in cash, representing a premium of more than 20% to their closing prices Friday.
Thomas Nelson, based in Nashville, saw its shares jump $4.53, or 18.4%, to $29.19, making it the top percentage gainer on the
New York Stock Exchange
.
The board of Thomas Nelson voted unanimously to approve the transaction, which should be completed by June 30.
