Shares of Circor International Inc. CIR surged 4.6% toward a five-year high in premarket trading Tuesday, after the flow-control-products company agreed to an amended merger deal with KKR & Co. KKR in which the per-share bid was raised to $51 from $49. KKR’s stock slipped 0.4% ahead of the open. The new deal is valued at $1.7 billion, including debt, and implies a market capitalization for Circor of $1.04 billion. The deal was amended after Circor received an unsolicited buyout bid of $52.
6% toward a five-year high in premarket trading Tuesday, after the flow-control-products company agreed to an amended merger deal with KKR & Co. KKR in which the per-share bid was raised to $51 from $49. KKR’s stock slipped 0.4% ahead of the open. The new deal is valued at $1.7 billion, including debt, and implies a market capitalization for Circor of $1.04 billion. The deal was amended after Circor received an unsolicited buyout bid of $52.65 a share in cash.