SoftBank Group completed its acquisition of Fortress Investment Group for $3.3 billion in cash. Following the close, SBG and its wholly-owned subsidiaries own all outstanding Fortress shares.
As a result of the acquisition, each outstanding Fortress class A share was converted into the right to receive $8.08 per share in cash, with merger proceeds to be distributed in accordance with payment procedures outlined in Fortress’s definitive proxy dated June 7, 2017 and the merger agreement incorporated therein. Fortress’s common stock ceased trading and will be delisted from the New York Stock Exchange. Fortress’s financial results will be consolidated and reflected on SBG’s consolidated financial statements following the acquisition closing date of December 27, 2017. SBG will announce the impact of the consolidation as necessary.
