SP Plus Corporation To Be Acquired By Metropolis Technologies For $1.5B; Stockholders To Receive $54.00 Per Share In Cash, Representing 52% Premium To The Closing Stock Price On October 4; Transaction To Close In 2024
Portfolio Pulse from Benzinga Newsdesk
SP Plus Corporation is set to be acquired by Metropolis Technologies for $1.5 billion. Stockholders will receive $54.00 per share in cash, a 52% premium to the closing stock price on October 4. The transaction is expected to close in 2024.
October 05, 2023 | 12:07 pm
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SP Plus Corporation's stockholders are set to receive a 52% premium on their shares due to the acquisition by Metropolis Technologies. The deal is expected to close in 2024.
The acquisition of SP Plus Corporation by Metropolis Technologies at a 52% premium to the closing stock price on October 4 is a positive development for the company's stockholders. This is likely to increase the stock price in the short term.
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