Adams Resources to be Acquired by Tres Energy Affiliate for $138.9 Million
MT Newswires Live
Nov 12, 2024
Adams Resources & Energy (AE) said Tuesday it has agreed to be bought by an affiliate of Tres Energy in an all-cash deal valued at about $138.9 million.
Under the terms of the deal, Adams Resources shareholders will receive $38 per share for each share of the company they hold.
The deal is expected to close in Q1, subject to approval by Adams Resources shareholders.
Upon deal closing, Adams Resources will become a privately held company and its stock will no longer be listed on the New York Stock Exchange.
Shares of Adams Resources rose more than 36% in recent trading activity.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.