The acquisition price of $16 per share represents a significant premium for Ultralife investors. The company, which specializes in the development of power, battery, communications, and computing products, saw its market valuation shift dramatically immediately following the news of the buyout. By absorbing Ultralife, EnerSys expands its footprint in the energy storage and specialized power solutions sector.
EnerSys to Acquire Ultralife in $320 Million Cash Deal
Ultralife shares surged 144% in after-hours trading, climbing to $15.51, following the announcement that the company will be acquired by EnerSys. The all-cash agreement values the battery and power systems manufacturer at approximately $320 million, a figure that accounts for the assumption of existing corporate debt.
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