American Resources Corporation Receives Unsolicited Bid For American Carbon For Up To $260M In Total Enterprise Value
Portfolio Pulse from Happy Mohamed
American Resources Corporation (NASDAQ: AREC) has received an unsolicited bid for its wholly owned metallurgical carbon division, American Carbon, totaling an implied enterprise value of approximately $260 million. The bid was not accepted due to the duration and structure of the consideration payments. The company remains committed to maximizing the value for shareholders including the sale, lease or expansion of production from the Company's metallurgical carbon assets.
June 28, 2023 | 12:40 pm
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American Resources Corporation rejected a $260M bid for its American Carbon division. The company remains committed to maximizing shareholder value, which could involve the sale, lease, or expansion of production from its metallurgical carbon assets.
The news is directly related to American Resources Corporation and its business strategy. The rejection of the bid indicates that the company is not satisfied with the proposed payment structure and is looking for better ways to maximize shareholder value. This could potentially impact the company's stock price, but the direction is uncertain as it depends on the market's perception of the company's decision and future plans.
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