Synex Renewable Energy to be Acquired by Sitka Power for C$25.2 Million

An announcement from Synex Internt’l ( (TSE:SXI) ) is now available.

Synex Renewable Energy Corporation announced an agreement to be acquired by Sitka Power Inc. for C$2.40 per share, valuing the company at approximately C$25.2 million. This transaction, which offers a 58% premium over the 20-day volume weighted average price, has been deemed fair and in the best interests of shareholders by Synex’s board. The acquisition provides immediate liquidity and value to shareholders, while Sitka views it as a strategic opportunity to expand its platform.

More about Synex Internt’l

Synex Renewable Energy Corporation operates in the renewable energy sector, focusing on a diverse portfolio of operating, construction-ready, and development projects primarily based in British Columbia.

YTD Price Performance: -5.12%

Average Trading Volume: 1,042

Technical Sentiment Signal: Buy

Current Market Cap: C$7.89M

For an in-depth examination of SXI stock, go to TipRanks’ Stock Analysis page.