Veritas, Evergreen team up to take Cubic private for $2.8B
February 9, 2021
Veritas Capital and Evergreen Coast Capital, the tech-focused PE arm of hedge fund Elliott Management, have agreed to acquire Cubic Corporation, a San Diego-based defense and transportation technology provider. The purchase price of $70 per share represents a 58% premium to Cubic's closing price on Sept. 18, the last day before news of a potential takeover was disclosed. The all-cash transaction is valued at roughly $2.8 billion.