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CIRCOR Int'l To Be Taken Private By KKR In $1.6 Bln All-cash Deal

RTTNews | Pred 820 dňami

CIRCOR Int'l To Be Taken Private By KKR In $1.6 Bln All-cash Deal

(RTTNews) - CIRCOR International, Inc. (CIR) announced Monday that it has entered into a definitive agreement to be acquired by investment funds managed by global investment firm KKR in an all cash transaction valued at approximately $1.6 billion, including the assumption of debt.

Under the terms of the agreement, KKR will acquire all outstanding shares of CIRCOR common stock for $49 per share in cash, representing a 55% premium to the Company's closing stock price on June 2, 2023. KKR is making its investment in CIRCOR through its North America Fund XIII.

Following the close of the transaction, KKR will support CIRCOR in expanding its equity ownership program to allow all employees to have the opportunity to participate in the benefits of ownership of the Company.

The Board of Directors of CIRCOR has unanimously approved the transaction and recommends that CIRCOR shareholders vote in favor of the transaction.

The transaction is expected to close in the fourth quarter of 2023, subject to the receipt of approval from the Company's shareholders and certain required regulatory approvals, as well as the satisfaction of other customary closing conditions.

The Board will have the right to terminate the merger agreement to enter into a superior proposal, subject to the terms and conditions of the merger agreement.

Once the transaction is complete, CIRCOR will be a privately held company wholly owned by KKR's investment funds and will no longer have its common stock listed on any public market.

Značky: CIR

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Lower Open Called For Hong Kong Stock Market

Lower Open Called For Hong Kong Stock Market

The Hong Kong stock market on Wednesday ended the two-day winning streak in which it had picked up almost 620 points or 2.4 percent. The Hang Seng Index now sits just shy of the 25,500-point plateau and it's expected to open in the red again on Wednesday.

RTTNews | Pred 6 minútami

Australian Market Notably Lower

Australian Market Notably Lower

Australian shares are trading notably lower on Wednesday, adding to the losses in the previous three sessions, with the benchmark S&P/ASX 200 falling well below the 8,900 level, following the broadly negative cues from Wall Street overnight, with weakness in financial and technology stocks partially offset by gains in mining stocks.

RTTNews | Pred 8 minútami

China Shares May Take Further Damage On Wednesday

China Shares May Take Further Damage On Wednesday

The China stock market on Tuesday wrote a finish to the three-day winning streak in which it had improved more than 75 points or 2 percent. The Shanghai Composite Index now sits just shy of the 3,860-point plateau and the losses may accelerate on Wednesday.

RTTNews | Pred 21 minútami

Taiwan Bourse May Extend Losing Streak

Taiwan Bourse May Extend Losing Streak

The Taiwan stock market has finished lower in four straight sessions, slumping more than 500 points or 2 percent along the way. The Taiwan Stock Exchange now sits just above the 24,000-point plateau and it may take further damage on Wednesday.

RTTNews | Pred 53 minútami

Singapore Shares: Resistance Expected At 4,300 Points

Singapore Shares: Resistance Expected At 4,300 Points

The Singapore stock market has moved higher in five straight sessions, collecting more than 50 points or 1.2 percent in that span. The Straits Times Index now sits just shy of the 4,300-point plateau, although it may run out of steam on Wednesday.

RTTNews | Pred 1 h 21 min

Malaysia Shares May See Renewed Consolidation On Wednesday

Malaysia Shares May See Renewed Consolidation On Wednesday

The Malaysia stock market on Tuesday snapped the two-day slide in which it had fallen more than a dozen points or 0.8 percent. The Kuala Lumpur Composite Index now sits just above the 1,575-point plateau although it may head south again on Wednesday.

RTTNews | Pred 1 h 46 min

Japan Stock Market May Hand Back Tuesday's Gains

Japan Stock Market May Hand Back Tuesday's Gains

The Japanese stock market on Tuesday ended the two-day losing streak in which it had dropped almost 650 points or 1.4 percent. The Nikkei 225 now sits just above the 42,310-point plateau although it may see renewed consolidation on Wednesday.

RTTNews | Pred 2 h 7 min

South Korea Shares May Head South Again On Wednesday

South Korea Shares May Head South Again On Wednesday

The South Korea stock market on Tuesday ended the two-day slide in which it had given up mor than 50 points or 1.6 percent. The KOSPI now rests just above the 3,170-point plateau although it's expected to turn lower again on Wednesday.

RTTNews | Pred 2 h 24 min

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