Eneti jumps on $597 mln merger deal with Cadeler

Cadeler A/S

16/06/2023 13:11

** Renewable energy firm Eneti Inc's shares  NETI.N  rise
20% to $13.45 premarket after co agrees to merge with Norway's
Cadeler A/S  CADLR.OL  in an all-stock transaction
    ** Merger deal is valued at $597 mln 
    ** Deal ratio to be 3.409 of Cadeler's shares for every
Eneti share 
    ** Combined co will be named Cadeler and be listed on the
New York Stock Exchange and the Oslo stock exchange 
    ** Current chief executive of Cadeler to continue as top
boss of merged firm
    ** Up to last close, stock had risen 16.6% YTD 

 (Reporting by Johann M Cherian in Bengaluru)
 ((johann.mcherian@thomsonreuters.com;))