EnergySolutions' Gets a Jolt on Higher Buyout Offer

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What: Shares of EnergySolutions (UNKNOWN: ES.DL  ) jumped 10% abruptly at 1:00 p.m. EDT after the company got an improved buyout offer.

So what: Energy Capital Partners raised its buyout offer from $3.75 per share, to $4.15, in an announcement made mid-day. Carlson Capital, L.P., who is the largest shareholder, said it would vote for this offer after opposing the earlier offer.  

Now what: This makes the acquisition more likely to go through, which can be seen by how closely the stock is trading to the offer price. On April 26, EnergySolutions will hold a special stockholders meeting to vote on the offer, and I would expect it to go through. It may be wise to take some gains off the table considering the small amount of upside to the offer price. The acquisition still has to be approved by regulators, so there's still a chance it falls through and the stock could take a hit if it does.

Interested in more info on Energy Solutions? Add it to your watchlist by clicking here.

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Related Tickers

12/31/1969 7:00 PM
ES.DL $0.00 Down +0.00 +0.00%
EnergySolutions CAPS Rating: *****