BUZZ-Adams Resources jumps after buyout deal from Tres Energy affiliate

Reuters

2024/11/12

** Shares of energy infrastructure firm Adams Resources & Energy AE.A up 36.2% at $37.20

** Stock hits highest in more than one-and-a-half years

** An affiliate of Tres Energy to buy AE in an all-cash deal valued at $138.9 mln

** Under the deal terms, Adams stockholders will receive $38 apiece in cash for each share owned

** The per-share purchase price represents a 39% premium to stock's last close

** Deal is expected to close in Q1 of 2025

** Including session's gains, stock up ~42% YTD

(Reporting by Sourasis Bose in Bengaluru)

((Sourasis.bose@thomsonreuters.com))

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