APO - Aegion gains after getting $28.50/share unsolicited bid may be superior to New Mountain deal

Aegion (AEGN) said an unsolicited, non-binding offer to purchase the company for $28.50/share could reasonably be expected to result into a superior proposal vs the $27/share offer it accepted from affiliates of New Mountain last week.Aegion plans to enter into a confidentiality agreement and engage in diligence activities with the third party.There can be no assurance that the discussions with the third party will result in the Aegion Board’s determing that the third party proposal is in fact a superior proposal or the consummation of a transaction that is superior to the pending transaction with New Mountain. Aegion gained 3% in premarket trading.Recall, Aegion gains after report of rival bid from Apollo Global. (APO)

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Aegion gains after getting $28.50/share unsolicited bid, may be superior to New Mountain deal