Circor International jumps on Arcline's proposal to buy company
28/06/2023 11:38
** Shares of industrial machinery maker Circor International
CIR.N up ~9% at $56 premarket
** Private equity firm Arcline Investment Management
proposes to acquire CIR for $57 per share in an all-cash deal
** Proposal represents a premium of ~12% to the $51 per
share offered by KKR & Co KKR.N
** Company planned to proceed to sell itself to KKR in an
all-cash deal for $51 per share on Tuesday
** Up to last close, stock has more than doubled YTD
(Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))