Investors cheer Spark Infrastructure’s $5.2 billion takeover
Spark Infrastructure’s stock climbed on news the board had agreed to a $5.2 billion takeover by a consortium led by private equity giant Kohlberg Kravis Roberts and the Ontario teachers’ pension fund.
The consortium completed due diligence over the weekend, firming up its $2.95 per security offer, a price the board managed to coax out of the consortium in the absence of rival suitors and without granting exclusive due diligence.
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