Deal Snapshot
ITRON CLEARS ANTITRUST HURDLE IN ACQUISITION OF SMART GRID AND SMART CITY SPECIALIST SILVER SPRING NETWORKS
Thursday 07 December 2017

The required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) with respect to US-based energy and water technology company Itron, Inc.'s (NASDAQ: ITRI) acquisition of US-based utility industry IoT specialist Silver Spring Networks, Inc. (NYSE: SSNI) for USD 16.25 per share in cash, the companies said.
The transaction is valued at approximately USD 830m, net of USD 118m of Silver Spring's cash. Expiration of the HSR Act waiting period satisfies one of the conditions to the closing of the pending acquisition, which remains subject to other customary closing conditions, including the approval of Silver Spring's stockholders.


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Details
Date Published: 07/12/2017
Target: Silver Spring Networks
Country: USA
Deal Size: 830m (USD)
Sector: Utilities
Type: Corporate acquisition
Financing: Cash
Status: Agreed
Vendor:
Buyer: Itron, Inc
Comment:
Terms of the deal were not disclosed

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