This is a pre-announced going-private transaction, not an activist campaign. The $127/share offer represents a fixed cash price; monitor for shareholder vote, regulatory approvals, and any competing bids. The cash-settled swap on 836,392 shares will settle in cash at closing, not add to KKR's voting stake.
Price Chart
Executive Summary
KKR (through Tarheel Investors III L.P.) filed a Schedule 13D disclosing a 14.0% stake in Integer Holdings Corp, acquired via physical settlement of equity swaps on October 5, 2026 for $428.7 million. The filing confirms KKR's affiliates already have a signed merger agreement (dated August 2, 2026) to acquire Integer for $127 per share in cash, making this a pre-announced going-private transaction rather than a traditional activist campaign.
Key Financial Metrics
Key Facts
- KKR holds 4,753,677 shares of Integer Holdings Corp common stock, representing 14.0% of outstanding shares
- Shares acquired via physical settlement of equity swaps on October 5, 2026 for $428,744,223
- KKR affiliates signed a merger agreement on August 2, 2026 to acquire Integer for $127 per share in cash
- KKR also holds a cash-settled swap with economic exposure to 836,392 additional shares (no voting or investment power)
- KKR Core II Holding Company LLC has committed equity to fund the merger consideration
- The merger will result in Integer becoming a wholly owned subsidiary of KKR affiliates
Financial Impact
All-cash acquisition at $127 per share; KKR's 14% stake cost $428.7 million; total equity value of the deal is implied by the $127/share price on ~34 million shares outstanding
Risk Factors
- Merger may fail to close due to regulatory hurdles, financing conditions, or shareholder opposition
- No go-shop or superior proposal process mentioned in the filing — potential for shareholder litigation over price
- Cash-settled swap exposure to 836,392 shares creates a hedging dynamic but no voting power
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13D Filing (Primary) | 0001140361-26-039472 |
| Document: ef20083243_ex99-2.htm | 0001140361-26-039472 |
| Document: ef20083243_ex99-1.htm | 0001140361-26-039472 |
| Document: 0001140361-26-039472-index-headers.html | 0001140361-26-039472 |
| Document: 0001140361-26-039472-index.html | 0001140361-26-039472 |
| Document: 0001140361-26-039472.txt | 0001140361-26-039472 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 5d ago | 8-K | $126.56 | awaiting T+5 | — | $126.52 (−0.03%) |
Oct 21, 2026 5d ago | Press Release | $126.56 | awaiting T+5 | — | $126.52 (−0.03%) |
Oct 14, 2026 12d ago | 8-K | $126.61 $126.70 | ▲ +0.07% | ▼ −0.38% | $126.52 (−0.07%) |
Oct 13, 2026 13d ago | SC 13D | $126.61 $126.70 | ▲ +0.07% | ▼ −0.38% | $126.52 (−0.07%) |
Oct 2, 2026 24d ago | Press Release | $126.45 $126.52 | ▲ +0.06% | ▼ −0.37% | $126.52 (+0.06%) |
Sep 30, 2026 26d ago | 8-K | $126.35 $126.59 | ▲ +0.19% | ▼ −1.72% | $126.52 (+0.13%) |
Sep 16, 2026 5w ago | Insider Cluster | $126.33 $126.17 | ▲ +0.13% | ▲ +0.73% | $126.52 (−0.15%) |
Sep 14, 2026 6w ago | DEFM14A | $126.13 $126.38 | ▲ +0.20% | ▲ +0.09% | $126.52 (+0.31%) |
Aug 4, 2026 11w ago | DEFA14A | $125.00 $125.08 | ▲ +0.06% | ▼ −0.29% | $126.52 (+1.22%) |
Aug 3, 2026 12w ago | 8-K | $124.45 $125.08 | ▲ +0.51% | ▼ −1.52% | $126.52 (+1.66%) |
US Market Status
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