Ashtead Tech weighs $660M buyout bid
British subsea firm Ashtead Technology is reviewing a $660 million cash buyout proposal from Ember Infrastructure Management. The potential deal represents a 12.8% premium over Ashtead's previous close.
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ASHTEAD TECHNOLOGY HOLDINGS received a £498 million ($659.75M) cash takeover proposal from Ember Infrastructure Management on Wednesday afternoon. The offer values the United Kingdom subsea equipment rental specialist at 615 pence per share. The bid represents a 12.8% premium over Ashtead Technology's previous closing price of 545 pence.
