(RTTNews) - Arcline Investment Management LP, a private equity firm, announced it submitted a binding proposal to acquire 100% of the shares of CIRCOR International Inc. (CIR) for $57.00 per share, in an all-cash, fully financed transaction. Arcline noted that the offer represents a total valuation of over $59.00 per share, when factoring in over $2.00 per share in value leakage through termination fees.
Arcline noted that its binding proposal will expire automatically if the CIRCOR Board does not declare it to be a superior proposal and provide to KKR a determination notice by no later than 8:00 pm Eastern Time on June 29, 2023.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
