Skip to main content

Thomas Nelson Taken Private

The company is valued at $473 million.
  • Author:
  • Publish date:

Thomas Nelson

undefined

, 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.