CECO Environmental Agrees To Acquire Profire Energy In An All-cash Transaction At $2.55 Per Share
Portfolio Pulse from Benzinga Newsdesk
CECO Environmental has agreed to acquire Profire Energy in an all-cash transaction valued at $2.55 per share. The deal, approved by Profire's Board, values Profire at approximately $125 million in equity and $108 million in enterprise value.
October 29, 2024 | 10:05 am
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POSITIVE IMPACT
CECO Environmental is acquiring Profire Energy in an all-cash transaction, which could enhance CECO's market position and growth potential.
The acquisition of Profire Energy by CECO Environmental is likely to be seen positively by investors as it could enhance CECO's market position and growth potential. The all-cash nature of the deal suggests financial stability and commitment to growth.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Profire Energy is being acquired by CECO Environmental for $2.55 per share, valuing the company at $125 million in equity.
The acquisition of Profire Energy by CECO Environmental at $2.55 per share is likely to result in a positive short-term impact on PFIE's stock price as it provides a premium to current shareholders.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 100