Why Circor International Stock Rocketed Higher This Week
Private equity titan (NYSE: KKR) has agreed to acquire aerospace component manufacturer Circor International (NYSE: CIR) for $1.6 billion, including debt. That's a significant premium to where the market had valued Circor, and the company's stock took off as a result.
Shares of Circor were up 51% for the week as of midday Thursday, according to data provided by S&P Global Market Intelligence.
Circor is a maker of pumps, valves, and other flow-control products for a range of applications including aerospace and defense, chemical manufacturers, and refineries.
Source Fool.com
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