April 9, 2018 / 9:30 PM / 7 months ago

BRIEF-Verifone To Be Acquired By Francisco Partners For $3.4 Billion

April 9 (Reuters) - Verifone Systems Inc:

* VERIFONE TO BE ACQUIRED BY FRANCISCO PARTNERS FOR $3.4 BILLION

* VERIFONE STOCKHOLDERS TO RECEIVE $23.04 PER SHARE IN CASH

* UPON COMPLETION OF TRANSACTION, VERIFONE WILL BECOME A PRIVATELY HELD COMPANY

* TRANSACTION IS NOT SUBJECT TO A FINANCING CONDITION

* VERIFONE SYSTEMS - MERGER AGREEMENT INCLUDES A "GO-SHOP" PERIOD

* ENTERED INTO DEAL UNDER WHICH INVESTOR GROUP LED BY FRANCISCO PARTNERS, INCLUDING BRITISH COLUMBIA INVESTMENT WILL BUY VERIFONE

* "GO-SHOP" PERIOD ALLOWS BOARD TO POTENTIALLY ENTER NEGOTIATIONS WITH PARTIES THAT MAKE ALTERNATIVE PROPOSALS THROUGH MAY 24

* QATALYST PARTNERS IS ACTING AS FINANCIAL ADVISOR TO VERIFONE AND SULLIVAN & CROMWELL LLP IS SERVING AS VERIFONE'S LEGAL ADVISOR Source text for Eikon: Further company coverage:

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