Reported Earlier, PGT Innovations Stockholder Approve Merger Agreement With MITER Brands
Portfolio Pulse from Benzinga Newsdesk
PGT Innovations, Inc. (PGTI) stockholders approved a merger agreement with MIWD Holding Company LLC (MITER Brands), where MITER Brands will acquire all outstanding shares of PGTI for $42.00 per share in cash. The deal, partly financed by Koch Equity Development LLC, is expected to close later this month, resulting in PGTI becoming a privately held company.
March 19, 2024 | 6:46 am
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PGT Innovations, Inc. stockholders approved a merger with MITER Brands at $42.00 per share, leading to PGTI becoming a privately held entity.
The approval of the merger agreement by PGTI stockholders and the upcoming transition of PGTI to a privately held company are significant events that directly impact PGTI's stock. The acquisition price of $42.00 per share represents a direct financial outcome for shareholders. The transition to a private entity means PGTI's stock will no longer be publicly traded, affecting its liquidity and availability to investors. The involvement of Koch Equity Development LLC as a financier adds credibility to the transaction, potentially influencing investor sentiment positively in the short term.
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