TSR to be acquired by Vienna Parent for $13.40 per share
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 15 2024
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Source: SeekingAlpha
- Vienna Parent Acquisition of TSR: Vienna Parent, led by Justin Christian, to acquire TSR through a tender offer at $13.40 per share, totaling about $29 million.
- Premium Offer: The acquisition offer represents a 73.8% premium to TSR's closing price on May 14.
- Transaction Details: Vienna Acquisition, a subsidiary of Vienna Parent, will finance the deal with a commitment letter from First Merchants Bank and cash on hand.
- Christian's Affiliation: Justin Christian is the CEO of BCforward, with Vienna Parent and Vienna Sub being affiliates of BCforward.
- Closing and Trading Impact: The transaction is set to close in the third quarter of 2024, with TSRI stock rising 2.84% after hours to $7.96.
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.
