By Connor Hart
Shares of Jacobs Solutions climbed after the company disclosed post-closing adjustments stemming from a transaction it completed with Amentum last year.
Shares rose 6.9% to $122.80 in after-hours trading. Through Thursday's close the stock has gained 13% in the past year.
The Dallas-based professional services company said it received $70 million and the right to receive nearly 7.3 million shares of Amentum's common stock.
The company used the money to repay a portion of its debt. It plans to distribute Amentum's stock, which represents 3% of the company's total shares outstanding, to Jacobs' shareholders on a pro rata basis as of a to-be-determined record date.
Jacobs said that the determination of these final post-closing adjustments represent the last step in its transaction with Amentum. It comes after the company last year spun off its Critical Mission Solutions and Cyber & Intelligence government-services businesses into Amentum, resulting in the latter becoming a publicly traded company.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
April 10, 2025 19:02 ET (23:02 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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