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.
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.