NEW YORK, September 16, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on Steiner Leisure Ltd. (NASDAQ: STNR). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/reports?keyword=STNR

Highlights from our STNR Report include:

  • Merger Agreement - On August 21, 2015, Steiner Leisure, a beauty, wellness and education company, reported the signing of a definitive merger agreement under which an affiliate of consumer-focused private equity firm Catterton Partners will acquire all of the outstanding shares of Steiner Leisure for $65 per share in an all-cash deal valued at about $925 million, including assumed net debt. The purchase price represents a premium of c. 21.5% over Steiner Leisure's 90 day weighted-average closing share price on August 20, 2015, the last trading day prior to the announcement.

  • Management Opinion - Steiner Leisure's Board of Directors unanimously approved the merger upon the recommendation of a Special Committee, which stated, "After careful consideration in conjunction with our independent advisors, the Special Committee has unanimously concluded that this transaction is in the best interest of our shareholders. Our Board has been committed to maximizing value for our shareholders, and we believe that this all-cash transaction with Catterton accomplishes that goal." Commenting upon this merger, Leonard Fluxman, President and CEO of Steiner Leisure, said, "This transaction will provide Steiner Leisure with greater flexibility to focus on our long-term business initiatives and to improve our role as a global provider and innovator in beauty, wellness and education."

  • Other Details of the Transaction - The release informed that the deal is expected to close in either the fourth quarter of this year or early next year. The Company said that the transaction is not subject to a financing condition. Further, the merger agreement also provides for a "go-shop" period until October 6, 2015, during which the board's Special Committee may actively solicit alternative proposals to acquire Steiner Leisure from third parties."

  • Latest Financial Results - In another press release dated July 29, 2015, Steiner Leisure reported its Q2 2015 financial results for the period ended June 30, 2015. Quarterly revenues were $217.4 million, up from $209.3 million in the corresponding quarter prior year. Net income for the quarter came in at $9.0 million vis-a -vis $8.3 million in the prior year period.  

To find out how this influences our rating on Steiner Leisure Ltd., read the full report in its entirely here: http://www.aciassociation.com/reports?keyword=STNR

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