Why Eneti Shares Are Gaining Friday Morning
Portfolio Pulse from Shivani Kumaresan
Eneti Inc and Cadeler A/S have entered into a business combination agreement through a stock-for-stock exchange. The proposed combination values Eneti's fully diluted share capital at $597 million. Following the completion, Cadeler and Eneti shareholders will own about 60% and 40% of the combined company, respectively. The combined group will be named Cadeler and be headquartered in Copenhagen, Denmark.
June 16, 2023 | 10:39 am
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POSITIVE IMPACT
Eneti Inc's shares are expected to be positively impacted by the business combination agreement with Cadeler A/S, valuing the company at $597 million.
The business combination agreement between Eneti Inc and Cadeler A/S is expected to have a positive short-term impact on Eneti's share price. The proposed combination values Eneti's fully diluted share capital at $597 million, representing a premium of 32% to NETI's June 15, 2023, closing price. This news is likely to be perceived positively by investors, leading to an increase in demand for Eneti's shares and a potential rise in its stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100