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      Here’s to why PAE Incorporated Inc. (PAE) stock soars during current market trading session? - Stocks Telegraph

      By Mahnoor Shah

      Published on

      October 25, 2021

      3:39 PM UTC

      Here’s to why PAE Incorporated Inc. (PAE) stock soars during current market trading session? - Stocks Telegraph

      PAE Incorporated Inc. (NASDAQ: (PAE) stock surged by 67.54% in the current market trading session after they announced that they have decided to be acquired by Amentum Government Services Holdings.  PAE has been tackling the world’s biggest issues for more than 66 years, delivering flexible and dependable solutions to the US government and its alliances. PAE provides a comprehensive range of operational support services to satisfy the crucial needs of clients, with an employee base of nearly 20,000 people spread across seven continents and 60 countries.

      PAE stock’ Current Update

      PAE Incorporated reported today that it has agreed to be purchased by an affiliate of Amentum Government Services Holdings LLC in an all-cash deal that amounted to nearly $1.9 billion, including debt assumption and certain fees. Amentum is a leading worldwide technical and engineering services provider that supports essential national security, intelligence, energy, and environmental activities.

      PAE shareholders will get $10.05 per share in cash if the deal is completed, which is dependent on shareholder approval and other standard closing requirements, such as regulatory approvals. PAE’s closing price on October 22, 2021, the final trading day before the disclosure of the transaction, was about 70% higher than the acquisition price. Unless the warrants are summoned for redemption, the exercise price of PAE’s outstanding warrants will be changed in accordance with PAE’s warrant agreement.

      Marshall Heinberg, Chairman of the Board of Directors commented,

      PAE’s Board believes that by attaining a 70% premium over PAE’s closing price on October 22, 2021, this deal will provide considerable value to PAE’s stockholders. This is a watershed moment in PAE’s 66-year history of serving the United States government. He would like to thank Interim President and CEO Charlie Peiffer, as well as the rest of the PAE management staff, for their excellent efforts in bringing the deal to this stage in the face of several conflicting demands.

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