Why CIRCOR Shares Are Jumping Today
Portfolio Pulse from Shivani Kumaresan
CIRCOR International (CIR) has agreed to be acquired by investment funds managed by KKR & Co (KKR) in an all-cash transaction valued at $1.6 billion, including debt. KKR will acquire all outstanding shares of CIRCOR for $49 per share, a 55% premium to its closing stock price on June 2, 2023. The transaction is expected to close in Q4 2023.
June 05, 2023 | 11:33 am
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POSITIVE IMPACT
CIRCOR's stock price is expected to rise following the announcement of its acquisition by KKR & Co at a 55% premium.
The acquisition deal offers a 55% premium on CIR's stock price, which is a significant increase. This news is expected to have a positive impact on CIR's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100
NEUTRAL IMPACT
KKR's acquisition of CIRCOR may have a neutral impact on its stock price, as the deal is in line with its recent investments in flow control technologies and aerospace and defense industry suppliers.
The acquisition is consistent with KKR's recent investments in similar industries, and the deal size is not significant enough to have a major impact on KKR's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100