AEGN - Aegion amends New Mountain Capital merger agreement increasing consideration to $27/share

Aegion (AEGN) announces an amendment to the definitive merger agreement with affiliates of New Mountain Capital, to increase the consideration payable to $27/share in cash from $26/share in cash; this revision represents a total enterprise value of $995M, including net debt.The revised per-share price represents a premium of 25.9% and 33.2% to Aegion’s closing share price and 30-day VWAP, respectively, as of February 12, 2021.In the amendment, the break-up fee payable by Aegion in certain circumstances has increased from $30M to $40; and the termination fee payable by Buyer to Aegion in certain circumstances has also increased from $60M to $70M.Previously (March 11): Aegion gains after report of rival bid from Apollo Global

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Aegion amends New Mountain Capital merger agreement, increasing consideration to $27/share