P&F Industries, Inc. To Be Acquired By Shoreview Industries For $13.00 Per Share
Portfolio Pulse from Benzinga Newsdesk
P&F Industries, Inc. (NASDAQ:PFIN) has announced a definitive agreement to be acquired by ShoreView Industries in an all-cash transaction for $13.00 per share, a 97% premium to the closing stock price on October 12, 2023. The transaction, approved by the P&F Board of Directors, is expected to close in Q4 2023, subject to approvals and consents. Post-acquisition, P&F will become a wholly owned subsidiary of ShoreView and will no longer be listed on any public market.
October 13, 2023 | 12:34 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
P&F Industries is to be acquired by ShoreView Industries at a significant premium, which is likely to have a positive impact on the stock price in the short term. However, the stock will be delisted post-acquisition.
The acquisition news, especially at a significant premium, is likely to drive the stock price up in the short term as investors react positively to the news. However, the stock will be delisted post-acquisition, which means it will no longer be available for trading on the public market.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100