Cepton jumps as Koito to acquire co

Cepton

29/07/2024 12:08

** Shares of electronic equipment & parts maker Cepton
 CPTN.O  jump 20.9% to $3.04 premarket 
    ** Koito Manufacturing  7276.T  to buy CPTN's shares it
doesn't already own at $3.17/shr in all-cash deal
    ** Deal represents a 25.3% premium of CPTN's Friday closing
price 
    ** Transaction expected to close in the first quarter of
2025, following which CPTN to operate as privately held,
indirect subsidiary of Koito
    ** CPTN down 19.4% YTD as of last close

 (Reporting by Pranav Kashyap in Bengaluru)
 ((Pranav.Kashyap@thomsonreuters.com;))