Berkshire Grey to Go Private in Merger Deal With SoftBank Group

Dow Jones2023-03-25

By Stephen Nakrosis

Berkshire Grey, Inc. said Friday it agreed to a merger deal with SoftBank Group Corp. and its affiliate that will see SoftBank acquire the company and take it private.

The all-cash deal will see SoftBank acquire all outstanding capital stock of it doesn't already own of Berkshire for $1.40 per share. The deal has a value of about $375 million, Berkshire said. Berkshire Grey said SoftBank has been an investor since 2019.

The agreement has been unanimously approved by Berkshire Grey's board and is expected to close in the third quarter, Berkshire said.

Shares of Berkshire Grey finished Friday's regular session with a 4.2% loss, closing at $1.14 per share. Trade in the stock had been halted after hours due to pending news.

Berkshire Grey said it offers technology that combines AI and robotics to automate fulfillment, supply chain and logistics operations.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

March 24, 2023 17:08 ET (21:08 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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