Why Is Battalion Oil Stock Jumping Premarket Friday?
Portfolio Pulse from Lekha Gupta
Battalion Oil Corporation's stock is surging premarket after announcing an amendment to its merger agreement with Fury Resources. Fury will acquire all outstanding common stock of Battalion for $7.00 per share, down from the initial $9.80 per share. The transaction, backed by significant capital commitments, is expected to close in Q4 2024.
September 20, 2024 | 12:25 pm
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Battalion Oil's stock is up 120% premarket following an amended merger agreement with Fury Resources, where Fury will acquire all outstanding shares for $7.00 per share. The deal is expected to close in Q4 2024.
The announcement of the amended merger agreement with Fury Resources, offering $7.00 per share, has led to a significant premarket increase in BATL's stock price. The deal's backing by capital commitments and expected closure in Q4 2024 adds to investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100