Apogee Enterprises Closes Kalwall Acquisition
APOG sits 43% above its 52-week low of $30.75.
Summary
Apogee Enterprises has completed its acquisition of Kalwall Companies. This finalizes the definitive agreement announced on May 28th, which involved a purchase price of up to $115 million. The completion allows Apogee to proceed with integrating Kalwall's operations, a material event given the acquisition's size relative to Apogee's market capitalization. This move is expected to contribute to Apogee's strategic growth initiatives.
At the time of this announcement, APOG was trading at $43.84 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $936M. The 52-week trading range was $30.75 to $50.88. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.