Exterran jumps on $735 mln buyout by Enerflex

Enerflex

24/01/2022 13:29

** Shares of energy infrastructure co  EXTN.N  surge 54.5%
to $4.64 premarket; one of top three pct gainers and active
stocks across U.S. exchanges
    ** Canada-based Enerflex Ltd  EFX.TO  signs deal to buy EXTN
for about $735 mln, or an enterprise value of $1.5 bln
 urn:newsml:reuters.com:*:nGNX36sghQ
    ** EFX to acquire all of EXTN's outstanding stock for 1.021
EFX shares per EXTN share
    ** Combined co will trade as Enerflex Ltd; EFX will continue
to trade on TSX and plans to apply to list on either NYSE or
Nasdaq
    ** Cos expect deal to close in Q2 or Q3
    ** EXTN's market cap was $99.91 mln, as of Friday's close
    ** Over 6.4 mln EXTN shares change hands, about 18.6x its
25-DMA
    ** Up to Friday's close, EXTN stock has fallen 36% and EFX
has risen 6.5%

 (Reporting by Ruhi Soni in Bengaluru;)
 ((Ruhi.Soni@thomsonreuters.com ; Twitter: https://twitter.com/ruhithere
 ;;))