Private equity firm Energy Capital Partners will purchase EnergySolutions Inc for $338.5 million in cash as the debt-laden nuclear waste management company struggles with weak demand.EnergySolutions' shareholders will receive $3.75 in cash for each share, representing a 9 percent premium to the stock's Friday's close of $3.44 on the New York Stock Exchange.The stock rose 8 percent to $3.72 in early trade.The deal implies an enterprise value of $1.1 billion, the companies said in a statement.
EnergySolutions, Inc. provides specialized, technology-based nuclear services to government and commercial customers. Shares of ES traded higher by 9.3% or $0.32/share to $3.76. In the past year, the shares have traded as low as $1.43 and as high as $5.43. On average, 938620 shares of ES exchange hands on a given day and today's volume is recorded at 3995604.
Waste Management, Inc. (WM) is a provider of waste management services in North America. Shares of WM fell by 0.51% or $-0.1734/share to $33.91. In the past year, the shares have traded as low as $30.82 and as high as $36.35. On average, 2963690 shares of WM exchange hands on a given day and today's volume is recorded at 466936.
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