Arcadia Biosciences ( (RKDA) ) has issued an announcement.
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Arcadia Biosciences and Roosevelt Resources have agreed to merge in an all-stock deal, making Roosevelt the majority shareholder. This strategic move aims to capitalize on Roosevelt’s vast oil and gas assets, particularly its carbon capture and storage project in Texas. The merger promises to enhance shareholder value and streamline operations, with Roosevelt’s experienced management leading the combined entity. The transaction is expected to close by Q1 2025, pending regulatory and shareholder approvals.
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