|Bid||0.0000 x 1100|
|Ask||0.0000 x 800|
|Day's Range||0.7200 - 0.7999|
|52 Week Range||0.0887 - 8.7900|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||-0.00|
|Earnings Date||Aug 13, 2020 - Aug 20, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1.50|
Moody's Investors Service, ("Moody's") downgraded Briggs & Stratton Corporation's ("Briggs & Stratton") probability of default rating (PDR) to D-PD from Ca-PD following the company's July 20, 2020 announcement that it has filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. Briggs & Stratton has also obtained $677.5 million in DIP financing, with $265 million committed by KPS Capital Partners, LP ("KPS") and the remaining $412.5 from the company's existing group of ABL lenders. Briggs & Stratton also entered into a definitive stock and purchase agreement with an affiliate of KPS to acquire substantially all of the company's assets and assume certain liabilities, subject to higher bids from other potential purchasers.
Briggs & Stratton files for Chapter 11 bankruptcy protection and announces a $550 million deal to be acquired by private equity firm KPS Partners.
KPS Capital Partners, LP ("KPS") announced today that, through a newly formed affiliate, it has entered into an asset purchase agreement with Briggs & Stratton Corporation (NYSE: BGG) and certain of its wholly-owned subsidiaries (collectively, "Briggs & Stratton" or the "Company") under which KPS will acquire substantially all of the assets of Briggs & Stratton, including equity of foreign subsidiaries, for approximately $550 million.