BEST Inc to Go Private in $54.2M Merger Deal with Global Partners, Plans Delisting from NYSE
Portfolio Pulse from Benzinga Newsdesk
BEST Inc. (NYSE:BEST) has announced a $54.2 million merger deal with BEST Global Partners, resulting in the company going private and delisting from the NYSE. The merger offers a premium to shareholders and is expected to close in Q3 2024, subject to customary conditions and shareholder approval.
June 20, 2024 | 7:10 am
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BEST Inc. has entered into a $54.2 million merger agreement with BEST Global Partners, resulting in the company going private and delisting from the NYSE. The merger offers a significant premium to shareholders and is expected to close in Q3 2024, subject to customary conditions and shareholder approval.
The merger agreement provides a premium to shareholders, which is likely to positively impact the stock price in the short term. The delisting from NYSE and going private may also lead to increased volatility until the merger is completed.
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