Centrus Energy acquires Westerman Holdings for nearly $116 million; shares rise
Mon 12:37
BUZZ-Centrus Energy acquires Westerman Holdings for nearly $116 million; shares rise ** Shares of nuclear fuel supplier Centrus Energy LEU.N up 2.6% at $117.93 premarket
** Co acquires one of its suppliers, Westerman Holdings for nearly $116 million, funded through a combination of around $95 million cash on hand and $21 million of equity
** The acquisition will broaden LEU's manufacturing platform, customer base, and future revenue opportunities through commercial and operational synergies
** The deal is expected to result in lower project costs for Centrus and greater efficiencies with an integrated supply chain
** Westerman will become a subsidiary within Centrus
** As of last close, LEU down 52.6% YTD
(Dharna Bafna in Bengaluru)
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Brief: Centrus Acquires Westerman Holdings, Llc, Bringing A Key Supplier In-House And Diversifying Its Manufacturing Capacity
Centrus Energy acquires Westerman Holdings for nearly $116 million; shares rise