Expro Agrees To Acquire Offshore Services Provider, PRT Offshore For Total Consideration To Be Paid At Closing Of $106M
Portfolio Pulse from Benzinga Newsdesk
Expro has agreed to acquire offshore services provider PRT Offshore for a total consideration of $106 million, to be paid at closing. The payment includes $62 million in cash and $44 million in newly issued Expro shares. Additional consideration may be based on PRT Offshore's financial performance in the year following the closing.
August 28, 2023 | 11:16 am
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NEUTRAL IMPACT
Expro's acquisition of PRT Offshore could potentially impact its stock price. The deal involves issuing new shares worth $44 million.
The acquisition could potentially dilute the value of existing shares, which may negatively impact the stock price. However, the acquisition could also strengthen Expro's market position, which may have a positive effect on the stock price. The net impact is uncertain, hence the neutral score.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100