Bradley L. Radoff Opposes GSE Systems' Take-Private Merger With Pelican Energy Partners
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 18 2024
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Source: Business Insider
Opposition to Merger: Bradley L. Radoff, owning about 9.9% of GSE Systems Inc., has expressed opposition to the company's proposed merger with Pelican Energy Partners, arguing it undervalues the company and prioritizes leadership's interests over shareholders.
Merger Details: GSE Systems announced a finalized all-cash merger agreement with Pelican Energy Partners, valuing the company at $4.10 per share, which is a 50% premium from its closing price on August 7, 2024, leading to GSE becoming a private entity post-merger.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
