Kirkland Advises Gen Digital on Acquisition of MoneyLion for $1 Billion Plus CVR
Kirkland & Ellis is advising Gen Digital Inc. (NASDAQ: GEN), a company dedicated to powering Digital Freedom through its family of consumer brands, on the acquisition of MoneyLion Inc. (NYSE: ML), a leading digital ecosystem for consumer finance. The companies announced a definitive agreement on December 10, 2024, and the transaction is expected to close in the first half of Gen’s fiscal year 2026 subject to customary closing conditions. The deal includes $82.00 per share in cash payable at closing, representing a cash value of approximately $1 billion. In addition, for each share owned, MoneyLion shareholders will receive at closing one contingent value right (CVR) that entitles the holder to a contingent payment of $23.00 in the form of shares of Gen common stock (issuable based on an assumed share price of $30.48 per Gen share) if Gen’s average volume-weighted average share price reaches at least $37.50 per share over 30 consecutive trading days from December 10, 2024 until 24 months after close.
Read the transaction press release
The Kirkland team included corporate lawyers Edward Lee, Carlo Zenkner, Dan Li and Alex Adamis; executive compensation lawyers Rohit Nafday, Anthony Ji and Devin Kern; capital markets lawyers Sophia Hudson, Jennifer Lee, Leia Andrew and Chi Vo Kavanaugh; tax lawyers Sara Zablotney, Maria Smith and Matthew Buono; structured finance lawyers Joel Weinberger and John Harrison; litigation lawyers Stefan Atkinson, Paige Comparato and Christopher Leach; and investment funds lawyers Daniel Kahl, Xiao-Hong Jing and Lena Yoon.
