Via Renewables rallies on bid by its chief executive to take the retail energy services company private
Via Renewables Inc.'s stock (VIA) was up by 12.8% in premarket trading on Tuesday after the retail energy services company's Chief Executive William Keith Maxwell III offered to take the business private for $11 a share, implying a total market capitalization of $118.8 million. The price is a 17% premium to the stock's last closing level on Friday. Maxwell already directly or indirectly owns about 65.7% of Via Renewables common stock. The deal includes a 30-day "go shop" period for the company's special committee to find a potential rival bid.
-Steve Gelsi
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01-02-24 0850ET
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