Adams Resources jumps after buyout deal from Tres Energy affiliate

Adams Resources & Energy

12/11/2024 15:53

** Shares of energy infrastructure firm Adams Resources &
Energy  AE.A  up 36.2% at $37.20
    ** Stock hits highest in more than one-and-a-half years
    ** An affiliate of Tres Energy to buy AE in an all-cash deal
valued at $138.9 mln
    ** Under the deal terms, Adams stockholders will receive $38
apiece in cash for each share owned
    ** The per-share purchase price represents a 39% premium to
stock's last close
    ** Deal is expected to close in Q1 of 2025
    ** Including session's gains, stock up ~42% YTD

 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))