SP Plus to be taken private by Metropolis Technologies for $1.5B

Metropolis Technologies Inc. said Thursday it would pay $54 a share for SP Plus Corp.
SP,
+0.14%
in a take-private deal that values the parking facility management company at $1.5 billion. The price amounts to a premium of 52% over the closing share price of SP Plus stock on Tuesday. Metropolis Technologies also said received commitments for $1.7 billion in financing led by Eldridge and 3L Capital, along with new investors including BDT & MSD Partners’ affiliated credit funds, Vista Credit Partners, and Temasek. SP Plus’s stock is up 2% in 2023, compared to a 26.5% gain by the Nasdaq
COMP,
+1.35%.