LS Starrett jumps on buyout deal with MiddleGround Capital

L S Starrett Co

11/03/2024 12:30

** Shares of industrial equipment maker LS Starrett  SCX.N 
up 59.1% at $15.79 premarket
    ** Co says it would be taken private by private equity firm
MiddleGround Capital in all-cash deal for $16.19/shr
    ** Offer implies a premium of 63.2% as per the last close of
SCX
    ** The transaction is expected to close in mid-2024
    ** Up to last close, stock is down ~18% YTD

 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))