CIRCOR Agrees To Be Acquired By KKR For $1.6B
Portfolio Pulse from Benzinga Newsdesk
CIRCOR has agreed to be acquired by KKR for $1.6 billion. KKR will acquire all outstanding shares of CIRCOR common stock for $49 per share in cash, representing a 55% premium to the company's closing stock price on June 2, 2023.
June 05, 2023 | 11:04 am
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NEUTRAL IMPACT
KKR is acquiring CIRCOR for $1.6 billion through its North America Fund XIII, purchasing all outstanding shares at $49 per share.
The acquisition of CIRCOR by KKR is a strategic move for KKR, but the impact on KKR's stock price is expected to be neutral in the short term. The acquisition is being made through KKR's North America Fund XIII, and the overall impact on KKR's stock price will depend on the long-term performance of the acquired company.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
CIRCOR agrees to be acquired by KKR for $1.6 billion, with KKR acquiring all outstanding shares at $49 per share, a 55% premium.
The acquisition of CIRCOR by KKR at a 55% premium to the company's closing stock price on June 2, 2023, is a positive development for CIR shareholders. The acquisition price represents a significant premium, which is likely to result in a short-term increase in CIR's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100