ContourGlobal shares jump 33% after KKR's $2.2 billion offer
LONDON, May 17 (Reuters) - Shares in London-listed ContourGlobal (GLO.L) leapt by a third on Tuesday after U.S. private company KKR (KKR.N) agreed to buy the power generation company for 1.75 billion pounds ($2.16 billion) in a bid to expand its renewable energy portfolio.
KKR will pay 263.6 pence for each share of ContourGlobal, according to the deal announced on Tuesday. That represents a 36% premium to the company's closing price on Monday.
Tuesday's 33% jump in early European trading took the shares to their highest level since August 2018.
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