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The initial offer represented a 76.8% premium to the Company’s unaffected stock price on June 2, 2023.
“The Board unanimously believes that KKR’s revised and enhanced proposal is in the best interests of our stockholders, provides certainty of closing on an expedited timetable, and significantly benefits our employees, customers and other stakeholders around the world,” said CIRCOR Board Chair Helmuth Ludwig.
If the transaction has not closed by October 31, 2023, Circor shareholders will receive additional cash consideration from KKR.
CIR stock rose 2.3% in pre-market to $55.04.
