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Cool Company Ltd ( (CLCO) ) has issued an announcement.
CoolCo and EPS Ventures Ltd have announced a merger agreement where EPS will acquire all outstanding shares of CoolCo not already owned by EPS for $9.65 per share, a significant premium over recent trading prices. This merger, recommended by CoolCo’s independent Special Committee, is seen as beneficial for shareholders and aims to strengthen CoolCo’s future as a private entity, focusing on long-term growth and lower-emission solutions.
The most recent analyst rating on (CLCO) stock is a Hold with a $9.65 price target. To see the full list of analyst forecasts on Cool Company Ltd stock, see the CLCO Stock Forecast page.
More about Cool Company Ltd
CoolCo is a specialized LNG Carrier company with a fleet of 13 vessels, offering a mix of short- and long-term charters to leading oil & gas, trading, and utility companies. The company focuses on organic growth through newbuilds and potential consolidation in the fragmented LNG market. CoolCo benefits from its affiliation with Eastern Pacific Shipping, enhancing its strategic position in the industry while committing to global decarbonization efforts.
Average Trading Volume: 87,806
Technical Sentiment Signal: Buy
Current Market Cap: $500.7M
For an in-depth examination of CLCO stock, go to TipRanks’ Overview page.