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.
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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...
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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...
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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.
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