Gulf Island Fabrication rises on $192 million takeover by IES Holdings

Gulf Island Fabrication

07/11/2025 14:27

** Shares of fabricator firm Gulf Island Fabrication GIFI.O rise 49% to $11.8 premarket

** IES IESC.O says it will buy Gulf Island Fabrication for $12 per share in cash, valuing the steel fabricator at about $192 million

** The boards of both companies have approved the deal, which is expected to close in the quarter ending March 31, 2026

** As of last close, GIFI stock was up 15.6% YTD

 (Reporting by Padmanabhan Ananthan)

 ((Padmanabhan.Ananthan@thomsonreuters.com))