From BigGo Finance · BigGo Finance · · 1m 10s
Ultralife Shares Jump 145% as EnerSys Agrees to $320 Million Takeover
EnerSys acquires Ultralife for $16 per share, a 166% premium, sparking 145% share surge.
In brief
EnerSys acquires Ultralife for $16 per share, a 166% premium, sparking 145% share surge. EnerSys agreed to buy Ultralife for $320 million at $16 per share, a 166% premium to Ultralife's Oct. 26 close, after Ultralife shares jumped 145%. Originally reported by BigGo Finance.
EnerSys Acquires Ultralife
EnerSys agreed to acquire Ultralife Corporation in an all-cash deal valued at about $320 million including net debt.
Share Price Jump
Ultralife shares jumped 145% on the news, while EnerSys edged higher.
Offer Details
EnerSys will launch a tender offer for all outstanding Ultralife common shares at $16.00 apiece.
Premium to Closing
That price represents a 166% premium to Ultralife's Oct. 26 close.
Target Closing Date
The deal is expected to close in the first quarter of 2027.
Strategic Rationale
The combination widens EnerSys' reach into munitions, soldier-worn power units, drones, counter-drone systems and autonomous platforms.
FEOC Compliance
Both companies stressed that the combined portfolio would be compliant with Foreign Entity of Concern standards.
Cost Synergies
EnerSys expects $15 million to $20 million in annual cost synergies within 18 months.
The main idea
EnerSys agreed to buy Ultralife for $320 million at $16 per share, a 166% premium to Ultralife's Oct. 26 close, after Ultralife shares jumped 145%.
