An announcement from Oil-Dri Corporation Of America (ODC) is now available.
Oil-Dri Corporation of America has entered into an agreement to acquire all outstanding shares of Ultra Pet for an estimated $46 million, with adjustments possible. The cash deal, expected to close in the fourth quarter of fiscal year 2024, will be financed through a mix of cash reserves, a BMO credit line, and the issuance of notes. The agreement includes customary representations and warranties, as well as indemnification provisions, with certain funds earmarked in escrow for post-closure adjustments or claims. The completion of the transaction hinges on several conditions, including the accuracy of the parties’ representations and the absence of legal impediments or a material adverse effect.
For an in-depth examination of ODC stock, go to TipRanks’ Stock Analysis page.
