Sprague Resources LP (NYSE:SRLP) changed -0.62% to recent value of $12.92. The stock transacted 941013 shares during most recent day however it has an average volume of 84.36K shares. It spotted trading -37.10% off 52-week high price. On the other end, the stock has been noted 31.43% away from the low price over the last 52-weeks.
On March 27, 2020, Sprague Resources LP (NYSE:SRLP) disclosed that it received an unsolicited non-binding proposal from Sprague Resources Holdings LLC (Holdings) dated March 25, 2020, pursuant to which Holdings would acquire all of the outstanding common units of Sprague that Holdings and certain of its affiliates do not already own in exchange for $13.00 in cash per common unit. Holdings and certain of its affiliates hold approximately 53.3% of the outstanding common units of Sprague as of March 26, 2020.
The $13.00 per common unit price of the proposal represents a premium of approximately 14% to its 10-day volume weighted average price prior to March 26, 2020, and a premium of approximately 7% to its 30-day volume weighted average price prior to March 26, 2020.
The board of directors of Sprague’s general partner will delegate the authority to evaluate and negotiate the proposal to its conflicts committee. The conflicts committee, which is composed of only independent directors of the board of directors of Sprague’s general partner, will consider the proposal pursuant to applicable procedures established in Sprague’s partnership agreement and will engage legal and financial advisors in connection with its consideration of the proposal. The proposal is non-binding and is subject to the negotiation and execution of a mutually acceptable merger agreement or other similar agreement which would set out all of the terms and conditions relevant to the proposed transaction. The proposal also would be subject to customary closing conditions, such as customary regulatory approvals.
SRLP has a gross margin of 7.80% and an operating margin of 2.20% while its profit margin remained 0.70% for the last 12 months. Its earnings per share (EPS) expected to touch remained -65.20% for this year.
The company has 23.01M of outstanding shares and 9.27M shares were floated in the market. According to the most recent quarter its current ratio was 1 that represents company’s ability to meet its current financial obligations. The price moved ahead of 7.26% from the mean of 20 days, -9.59% from mean of 50 days SMA and performed -21.56% from mean of 200 days price. Company’s performance for the week was 8.75%, 0.94% for month and YTD performance remained -23.64%.
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