On Tuesday morning, shares of MoneyLion Inc. (ML) experienced a notable increase of approximately 13% following the announcement of a significant agreement. Under this deal, Gen Digital Inc. (GEN) plans to acquire MoneyLion, offering $82.00 per share in cash. This transaction is valued at around $1 billion.
Currently, MoneyLion's stock is trading higher by 13.10%, a rise of $10.09, reaching $87.10 on the New York Stock Exchange. In contrast, Gen Digital's stock is experiencing a decline of 3.25%, or $0.96, trading at $29.54 on the Nasdaq.
The acquisition aims to utilize Gen Digital's extensive global reach, reputable brands, and robust ecosystem, synergized with MoneyLion's personal financial management tools and integrated financial marketplaces.
Additionally, Gen Digital has announced that its shareholders will receive, upon closing, one contingent value right. This right grants the holder a potential contingent payment of $23.00, payable in the form of shares of Gen common stock.
The completion of this deal is anticipated during the first half of Gen's fiscal year 2026.
