Kirkland & Ellis LLP represented Horizon Lines, Inc. (HRZL) which announced today it has entered into definitive agreements with each of Matson Inc. and The Pasha Group. Under the Matson agreement, Matson will acquire all outstanding shares of Horizon Lines for $0.72 per share in an all-cash transaction. Under the Pasha agreement, Pasha will acquire Horizon Lines' Hawaii trade lane business, prior to closing of the Matson agreement, for approximately $141.5 million in cash. As a result of the transactions, Matson, Inc. will acquire all of Horizon Lines' business operations, except for the Hawaii trade lane business. The two transactions taken together are valued at approximately $598 million on an enterprise value basis.
The Kirkland team is led by partners Daniel Wolf and Yi Claire Sheng and associates Andrew Joseph and Jonathan Manor.