BRIEF-Lionsgate to acquire Starz for $4.4 bln in cash and stock

Thu Jun 30, 2016 8:21am EDT
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June 30 (Reuters) - Starz

* Starz says lionsgate expects acquisition to be highly accretive, generate significant synergies and create a whole that is greater than sum of its parts

* Lionsgate to acquire Starz for $4.4 billion in cash and stock

* Each share of lionsgate common stock will be reclassified into 0.5 voting and 0.5 newly created non-voting shares

* Lionsgate intends to fund cash portion of deal with a combination of newly issued bank and bond financing

* Holders of each share of starz series a common stock will receive $18.00 in cash as well as 0.6784 of a share of lionsgate non-voting stock

* Starz says liontree advisors is serving as exclusive financial advisor and baker botts llp is serving as legal advisor to starz

* Acquisition is expected to generate significant revenue and cost synergies

* Starz says j.p. Morgan, bank of america merrill lynch, deutsche bank and credit suisse are serving as financial advisors to lionsgate

* Holders of each share of co's series b stock to get $7.26 in cash, 0.6321 share of lionsgate voting stock, 0.6321 share of lionsgate non-voting stock Source text for Eikon: (Bengaluru Newsroom; +1 646 223 8780)