Aegion Corporation (NASDAQ: AEGN) announced on March 15 that it has entered into an amendment to the definitive merger agreement with affiliates of New Mountain Capital, L.L.C. The amendment will increase the consideration payable to holders of outstanding shares of Aegion common stock to $27.00 per share in cash. The initial share price was $26.00 per share.
Aegion initially announced this deal with New Mountain on Feb. 16, 2021. The total enterprise value of the deal was $963 million including net debt. The transaction also implied a 28% premium over the 30-day volume weighted to be in line with expectations. The company decided not to host a conference call to discuss earnings. It also declined to provide a financial outlook.
This revised transaction price ...