Stock Market

Exela Technologies Confirms Receipt of Acquisition Proposal

XELA STOCK UPDATE: [stock_market_widget type=”inline” template=”generic” assets=”XELA” markup=”{name} ({symbol}) is trading at {price} ({change_pct}). {symbol} has the current dollar volume of {volume}, 52 weeks high of {52_week_high}, and 52 weeks low of {52_week_low} per share. There are currently {shares_outstanding} shares of {symbol} outstanding with the current market cap of {market_cap}. ” api=”yf”]

Exela Technologies, Inc. today confirmed that it has received a preliminary, non-binding proposal (the “Proposal”) to acquire an approximately $200 million revenue business unit of Exela, subject to certain conditions, including due diligence. The Company is in active discussions with several counter-parties about additional acquisition proposals.

On June 6, 2022, the Company announced its strategic plans initiating the sale process for several standalone assets, as part of a broader mandate to maximize shareholder value, including further reduction, exchange of debt, lowering its overall annual interest expense, and/or repurchasing common stock. The Company is evaluating the Proposal as well as other strategic alternatives which may enhance shareholder value.

Consistent with its fiduciary duties and in consultation with its financial and legal advisors, Exela’s Board of Directors will carefully review the Proposal. There can be no assurances that any definitive agreement will be executed or that a transaction will be approved or consummated. The Company does not undertake any obligation to provide updates with respect to this or any other transaction, except as required under applicable law.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button