BUZZ-B Riley downgrades Cool Company following EPS Ventures cash offer
Reuters
Sep 25
BUZZ-B Riley downgrades Cool Company following EPS Ventures cash offer
** Shares of liquefied natural gas transporter Cool Company CLCO.N up 20.4% at $9.36 after company said EPS Ventures will acquire its remaining 40.7% outstanding shares for $520 million
** Co's shares have steadily recovered from early Q2 troughs as rates improved off a deep bottom during a period of seasonal weakness
** The deal, which is expected to close in the fourth quarter of 2025 or first quarter of 2026, represents a 26% premium to the company's last close on September 22
** Including session's moves, CLCO up 17.5% YTD
(Reporting by Anuj T in Bengaluru)
((anuj.t@thomsonreuters.com))
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