Babylon Holdings To Be Acquired By AlbaCore Capital, MindMaze Group - Stock Falls
Portfolio Pulse from Nabaparna Bhattacharya
Babylon Holdings Limited (NYSE:BBLN) has agreed to be acquired by AlbaCore Capital and MindMaze Group. The deal provides $34.5 million in funding to Babylon and is expected to close in July 2023. Following the transaction, Babylon will cease trading on the NYSE under the ticker symbol 'BBLN'.
June 23, 2023 | 2:14 pm
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NEGATIVE IMPACT
Babylon Holdings (NYSE:BBLN) shares are down 16.10% after agreeing to be acquired by AlbaCore Capital and MindMaze Group, providing $34.5 million in funding.
The acquisition agreement has a direct impact on Babylon Holdings' stock price, as it is expected to cease trading on the NYSE under the ticker symbol 'BBLN' after the transaction. The deal provides $34.5 million in funding, which could be seen as a positive development for the company. However, the stock price has fallen 16.10% following the news, indicating a negative short-term impact.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100