Circor’s stock rises toward 6-year high after KKR affirms intention to buy company, after Arcline submits higher bid

Shares of Circor International Inc. CIR rallied 4.9% toward a six-year high in morning trading Wednesday, but pared an earlier intraday gain of 6.7%, after KKR & Co. Inc. KKR affirmed its intention to buy the flow-control-products company. KKR’s announcement comes after private-equity firm Arcline Investment Management LP submitted a $57-a-share cash bid to buy Circor, which is about 12% KKR’s agreed-upon amended bid of $51 a share. KKR’s stock fell 0.9% in morning trading.

KKR affirmed its intention to buy the flow-control-products company. KKR’s announcement comes after private-equity firm Arcline Investment Management LP submitted a $57-a-share cash bid to buy Circor, which is about 12% KKR’s agreed-upon amended bid of $51 a share. KKR’s stock fell 0.9% in morning trading. “KKR is confident that its transaction to acquire Circor maximizes shareholder value while minimizing regulatory, market, and industry risks,” KKR said in a statement.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Circor’s stock jumps premarket after PE firm Arcline submits $57-a-share cash offer for company that is above KKR’s amended $52 offerCircor International Inc.’s stock soared 9.5% premarket Wednesday, after private equity firm Arcline Investment Management LP submitted an offer for the...
La source: MarketWatch - 🏆 3. / 97 Lire la suite »

Circor stock rallies toward 5-year high after merger deal with KKR was improvedShares of Circor International Inc. surged 4.6% toward a five-year high in premarket trading Tuesday, after the flow-control-products company agreed to an...
La source: MarketWatch - 🏆 3. / 97 Lire la suite »

Stock market today: Global shares mixed despite Wall Street rallyGlobal shares were mixed on Wednesday despite a rally on Wall Street driven by optimism over reports suggesting the American economy is in better shape than feared.
La source: wjxt4 - 🏆 246. / 63 Lire la suite »