CIR - Circor International accepts KKR's improved $56/share buyout bid

2023-06-29 19:07:20 ET

Circor International ( NYSE: CIR ) +3.8% post-market Thursday after saying KKR ( NYSE: KKR ) amended its definitive merger agreement to acquire the company for $56/share in cash, $5 higher than the $51/share KKR offered on June 26 .

Circor ( CIR ) shareholders also may receive as much as $1/share in additional cash if the transaction has not closed by October 31.

Arcline Investment Management submitted a $57/share takeover proposal on Wednesday, but Circor's ( CIR ) board concluded the difference in price was more than offset by the increased deal certainty associated with KKR's amended agreement.

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