Berkshire Grey Confirms SoftBank's Interest to Acquire Outstanding Shares
By Kathryn Hardison
Berkshire Grey Inc. said Friday that it has received a non-binding takeover offer from SoftBank Group Corp.
Berkshire Grey, an artificial intelligence-enabled robotic solutions company, said SoftBank Group has proposed acquiring all outstanding stock for $1.30 per share in cash.
Berkshire Grey had 233.3 million shares outstanding as of Feb. 9, according to FactSet.
The board plans to evaluate SoftBank's offer. The terms of any potential agreement would be contingent on certain conditions, including completion of a due diligence review and negotiation of definitive transaction documents, the Bedford, Mass., company said .
Berkshire Grey also said it is evaluating various alternative options, including potential financing transactions.
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February 10, 2023 17:24 ET (22:24 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.