Brad Jacobs-led group to take 99.8% of CKX Lands

Jacobs Private Equity II, a company owned by Jacobs, would contribute $900 million to the investment. A group of co-investors led by HRTG Partners would provide the remaining $100 million, under the agreement’s terms.

After the transaction closes, CKX would be renamed and operate as a standalone public company platform in an industry that has yet to be determined, the companies said. Jacobs would become its chairman and chief executive.

Existing CKX shareholders would receive a cash dividend of roughly $10.1312 per share. It would be paid to stockholders of record on a date shortly before the investment closes.