Focus Financial announces expiration of ‘Go-Shop’ period

Focus Financial Partners announced the expiration of the 40-day "go-shop" period under the terms of the previously announced definitive merger agreement, pursuant to which affiliates of Clayton, Dubilier & Rice will acquire Focus for $53.00 per share in an all cash transaction. Funds managed by Stone Point Capital have agreed to retain a portion of their investment in Focus and provide new equity financing as part of the proposed transaction. Pursuant to the terms of the merger agreement, the Special Committee of the Board of Directors of Focus and its advisors had the right to actively initiate, solicit and consider alternative acquisition proposals from third parties during the go-shop period. The "go-shop" period expired at 11:59 p.m. Eastern Time on April 8, 2023. Focus did not receive any alternative acquisition proposals from any third party during the "go-shop" period. Closing of the proposed transaction is subject to stockholder approval, regulatory approvals and other customary conditions. The transaction is expected to close in the third quarter of 2023. Focus will cease to be a publicly traded company upon consummation of the proposed transaction