SYDNEY Britain’s Liberty House Group stated on Monday it posted a revised bid for troubled Australian steel group Arrium Limited , after a week ago conceding defeat to some South Korean private equity finance syndicate.
The sale means $27.05 per Grain Energy share, representing reasonably limited of 37.4 % towards the stock’s Friday closing cost, based on calculations.
EQT stated the offer will give it use of Grain Energy’s midstream assets, together with a 92 percent curiosity about Grain Midstream GP Holdings. EQT will require on about $1.5 billion indebted, with the deal.
Citigroup was EQT’s financial advisor, while Wachtell, Lipton, Rosen & Katz were its legal advisors. Barclays Capital Corporation was Grain Energy’s financial advisor and Vinson & Elkins LLP its legal advisor.
Grain Energy’s shares surged nearly 26 % to $24.90, while EQT’s stock was lower 7.3 % in premarket buying and selling on Monday.
U.S. gas and oil company EQT Corp (EQT.N) stated on Monday it might buy Grain Energy (Grain.N) inside a cash-and-stock deal worth $6.7 billion to grow its gas business.
Grain Energy shareholders will get $5.30 per be part of cash and .37 EQT shares for every share they hold, EQT stated.
Scientific instruments maker PerkinElmer Corporation stated on Monday it might buy Germany’s Euroimmun Medical Laboratory Diagnostics AG for around $1.3 billion in cash to grow its achieve into autoimmune and allergy diagnostic markets.
(Reporting by Yashaswini Swamynathan in Bengaluru Editing by Sai Sachin Ravikumar and Saumyadeb Chakrabarty)