Crystal Clean Goes Private In $1.2B Cash Deal
Portfolio Pulse from Shivani Kumaresan
Heritage-Crystal Clean Inc (NASDAQ:HCCI) is set to be acquired by an investment affiliate of J.F. Lehman & Company (JFLCO) in a $1.2 billion all-cash deal. The purchase price represents a 24.9% premium to Crystal Clean's 60-day volume-weighted average price on July 19. Post-acquisition, Crystal Clean will become a privately held company and its shares will no longer be listed on the Nasdaq Stock Exchange. The transaction is expected to close in Q4 2023.
July 20, 2023 | 9:55 am
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Heritage-Crystal Clean Inc is being acquired by J.F. Lehman & Company in a $1.2 billion deal. Post-acquisition, the company will go private and its shares will no longer be listed on the Nasdaq.
The acquisition of Heritage-Crystal Clean Inc by J.F. Lehman & Company will result in the company going private. This means that its shares will no longer be listed on the Nasdaq, which will likely lead to a decrease in the stock's liquidity and potentially its price in the short term.
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