Affiliates of New Mountain Capital Acquire Aegean Corporation
Aegean Corporation (AEGN) announced on February 16 that the company entered into a definitive agreement for an acquisition by affiliates of New Mountain Capital, LLC. Aegean’s stockholders will receive a cash payout of $26 per share, which is a 28% premium over the stock’s 30-day moving average price. The deal values the enterprise at $963 million including net debt. Aegean is a leading provider of infrastructure, maintenance, rehabilitation, and protection solutions. Aegean will become a private company after the completion of the acquisition in the second half of 2021.
Sonal detected the event and sent an alert at 8:45 am. The last trade took place at the market close on the previous day for $21.45. Aegean’s stock price spiked above $27 before pulling back in the first hour of trading. The stock closed at $26.57 for an event-day gain of 24%.
Find out more about how you can trade on stock merger and acquisition announcements in the Knowledge Center.
To see the latest weekly webinar, you can visit our Live Webinar page.
Subscribe here if you would like to start receiving these signals in real-time and start trading!