Why Allego Shares Are Moving Higher Monday
Portfolio Pulse from Dylan Berman
Allego (NYSE:ALLG) shares surged on Monday after its majority shareholder, Meridiam, announced a tender offer for all outstanding shares at $1.70 each, a 131% premium. Post-tender, Allego will delist from the NYSE. Meridiam also committed to long-term support for Allego's growth.
June 17, 2024 | 3:43 pm
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Allego shares surged 127.2% after Meridiam announced a tender offer at $1.70 per share, a 131% premium. Post-tender, Allego will delist from the NYSE. Meridiam also committed to long-term support for Allego's growth.
The announcement of a tender offer at a significant premium and the subsequent delisting from the NYSE are major events that have driven the stock price up by 127.2%. Meridiam's commitment to long-term support further boosts investor confidence.
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