Allego And Majority Shareholder, Meridiam, Jointly Announce Transaction Framework Agreement, Under Which Meridiam Will Launch A Tender Offer For All Issued And Outstanding Allego Shares Not Owned By Meridiam, Followed By Allego's Delisting Of Shares From NYSE; Meridiam Will Offer Allego Shareholders Option to Tender Shares For $1.70/Share In Cash
Portfolio Pulse from Benzinga Newsdesk
Allego and its majority shareholder, Meridiam, have announced a transaction framework agreement. Meridiam will launch a tender offer for all issued and outstanding Allego shares not owned by Meridiam, followed by Allego's delisting from the NYSE. Meridiam will offer Allego shareholders $1.70 per share in cash.
June 17, 2024 | 12:12 pm
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Allego and Meridiam have announced a tender offer for all outstanding Allego shares at $1.70 per share, followed by delisting from the NYSE.
The tender offer at $1.70 per share provides a clear exit strategy for shareholders, likely leading to a short-term increase in stock price as investors react to the buyout offer. The subsequent delisting from the NYSE will also impact trading dynamics.
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