Allego shares are trading higher after the company and its majority shareholder, Meridiam, announced a transaction framework agreement under which Meridiam will launch a tender offer for all issued and outstanding Allego shares not owned by Meridiam, with the option to tender shares for $1.70 per share in cash.
Portfolio Pulse from Benzinga Newsdesk
Allego shares are trading higher following the announcement of a transaction framework agreement with its majority shareholder, Meridiam. Meridiam will launch a tender offer for all issued and outstanding Allego shares not owned by Meridiam, offering $1.70 per share in cash.
June 17, 2024 | 12:20 pm
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Allego shares are trading higher after Meridiam announced a tender offer for all outstanding shares at $1.70 per share in cash.
The tender offer by Meridiam at a premium price of $1.70 per share is likely to drive Allego's stock price higher in the short term as investors react positively to the buyout offer.
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