CIRCOR Enters Into Amendment To Definitive Merger Agreement With KKR At $51 Per Share
Portfolio Pulse from Benzinga Newsdesk
CIRCOR has accepted a proposal from KKR affiliates to increase the price of its definitive merger agreement from $49 to $51 per share, valuing the all-cash transaction at $1.7 billion, including debt assumption.
June 27, 2023 | 10:36 am
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POSITIVE IMPACT
CIRCOR's merger agreement price with KKR has been increased to $51 per share, valuing the all-cash transaction at $1.7 billion.
The increased merger agreement price is likely to have a positive impact on CIR's stock price in the short term, as it reflects a higher valuation for the company.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100
NEUTRAL IMPACT
KKR affiliates have proposed an increased price for the definitive merger agreement with CIRCOR, raising the all-cash transaction value to $1.7 billion.
The increased merger agreement price may have a neutral impact on KKR's stock price in the short term, as the higher price could be seen as both a positive (higher valuation for the target company) and a negative (higher cost for KKR).
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100