From: Ann Shumelda Okerson <
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Date: Mon, 14 Jan 2019 20:20:42 -0500
NEW YORK—January 14, 2019 — Churchill Capital Corp (“Churchill”) (NYSE: CCC), a public investment vehicle, and Clarivate Analytics (“Clarivate”), a global leader in providing trusted insights and analytics to accelerate the pace of innovation, announced they have entered into a definitive agreement to merge. The combined company will operate as Clarivate and will become publicly listed on the New York Stock Exchange. The transaction implies an initial enterprise value of approximately $4.2 billion1 with a multiple of approximately 12.5x Clarivate’s estimated 2019 Standalone Adjusted EBITDA before synergies at the time of close.