Greenhill shares surge 116% on Mizuho acquisition announcement

Greenhill (NYSE:) shares jumped more than 116% intra-day today after Mizuho Financial Group (NYSE:), the 15th largest bank in the world as measured by total assets of ~$2 trillion, announced it will acquire the company in an all-cash transaction at $15 per share.

Through this transaction, which reflects an enterprise value of around $550 million, including assumed debt, Mizuho will accelerate its investment banking growth strategy, building on Greenhill’s 27-year history of advising on significant mergers, acquisitions, restructurings, financings and capital raising to corporations, partnerships, institutions and governments globally.