It looks like another SPAC is going operational. Enterprise Acquisition Corp. (AMEX: EST) has agreed to acquire WF Capital Holding Inc., which is a private company and the parent company of Workflow Management Inc. for $179 million in stock. Workflow will also buy two unnamed firms in the
marketing and promotional services business sector for terms that are not yet disclosed. The surviving company will be called Workflow Corp. and the surviving business will be run by current management.
Enterprise expects this merger to close later this year or early in2009. Terms will include the assumption of some $490 million in debt.Workflow is one of the largest and fastest growing print andpromotional products companies and now has nearly $1.2 billion inannual revenue after including the planned acquisitions being proposed.
Enterprise raised $250 million in its IPO back in November 2007.Shares of Enterprise Acquisition closed have traded in a range of $8.98to $9.50 in an adjusted trading range and closed Friday at $9.49.
Jon C. Ogg
August 25, 2008
It’s Your Money, Your Future—Own It (sponsor)
Retirement can be daunting, but it doesn’t need to be.
Imagine having an expert in your corner to help you with your financial goals. Someone to help you determine if you’re ahead, behind, or right on track. With SmartAsset, that’s not just a dream—it’s reality. This free tool connects you with pre-screened financial advisors who work in your best interests. It’s quick, it’s easy, so take the leap today and start planning smarter!
Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.