It was a wake-up call. Literally. At 6:30 a.m. EDT on May 17, 2021, the email arrived with the announcement that the public company Clarivate intended to acquire ProQuest from the privately held, family-owned Cambridge Information Group and minority owner Atairos. The investor call was scheduled for 8 a.m. On the call, the financial aspects of the acquisition were discussed. The purchase price is $5.3 billion, with $4 billion of that being in cash and the remaining $1.3 billion in equity. Clarivate will also refinance ProQuest's debt. The transaction is expected to close in Q3 2021, pending "customary closing conditions, including regulatory approvals," according to the press release.
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