Cadeler A/S and Eneti Inc. Announce Launch Of Share Exchange Offer For All Of The Outstanding Shares Of Common Stock Of Eneti Inc.
Portfolio Pulse from Benzinga Newsdesk
Offshore wind turbine and foundation installation companies Cadeler A/S and Eneti Inc. have announced a share exchange offer for all outstanding shares of Eneti Inc. The offer is part of a business combination agreement announced in June 2023 and is expected to close in Q4 2023. The combined group will be named Cadeler, headquartered in Copenhagen, Denmark, and listed on the New York Stock Exchange and the Oslo Stock Exchange. Cadeler's management anticipates the business combination will deliver annual synergies of €106 million.
November 07, 2023 | 10:42 pm
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Eneti Inc. is part of a share exchange offer with Cadeler A/S. The combined group will be named Cadeler and listed on the NYSE and OSE. The business combination is expected to deliver annual synergies of €106 million.
The share exchange offer and subsequent business combination with Cadeler A/S is likely to have a positive impact on Eneti Inc.'s stock in the short term. The anticipated annual synergies of €106 million could increase the company's profitability and attractiveness to investors.
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