PDCO Overview

Sterling Infrastructure Replacement: Sterling Infrastructure (STRL) will replace Patterson Companies (PDCO) in the S&P SmallCap 600 index on April 17, as Patient Square Capital is acquiring Patterson Companies.

Patterson Companies' Financial Situation: Patterson Companies is experiencing fluctuations in stock value due to delays in debt financing related to its acquisition by Patient Square Capital.

Patterson Companies Stock Movement: Patterson Companies saw a 1.1% increase in after-hours trading following a Nasdaq delisting notice related to its acquisition by Patient Square Capital, which is expected to close before market opening on Thursday.

Debt Financing Delay: The stock had previously dropped 0.9% due to reports of delays in the $2.35 billion debt financing for the acquisition amid recent market volatility.

Debt Financing Delay: Patterson Cos. experienced a 0.9% decline due to delays in debt financing for its $3.4 billion sale to Patient Square, attributed to recent market volatility and tariff issues.

Market Response: Banks involved are considering adjusting terms on the financing package, with key deadlines for loans and bond sales approaching, while both companies have not provided comments on the situation.

High-Risk Financing Delays: Wall Street banks are postponing high-risk financing deals due to investor anxiety stemming from President Trump's tariffs, with several major leveraged loan deals already on hold and a significant drop in leveraged loan prices.

Impact on Credit Market: The broader credit market is experiencing pressure as fears of recession grow, affecting not only buyouts but also refinancing efforts for companies like CEC Entertainment and Finastra Group Holdings.

Acquisition Announcement: Patterson Companies, Inc. shareholders have approved the acquisition by Patient Square Capital, which will result in Patterson becoming a privately held company with shareholders receiving $31.35 per share.

Future Prospects: Patterson's CEO expressed optimism about the partnership, stating it will enhance growth and customer service as they transition to private ownership, with the transaction expected to close later this month.