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NEW YORK , June 17, 2024 /PRNewswire/ -- Rowley Law PLLC is investigating potential securities law violations by Primo Water Corporation (NYSE: PRMW) and its board of directors concerning the proposed acquisition of the company by an affiliate of BlueTriton Brands, Inc. Primo Water stockholders will own approximately 43% of the combined company. The Transaction is expected to close in the first half of 2025.
Shares of bottled water company Primo Water (PRMW) jumped Monday after the company announced plans to merge with BlueTriton, which owns brands like Arrowhead, Deer Park, and Poland Spring.
The combined company is estimated to generate $6.5 billion in annual revenue.
NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the merger of Primo Water Corporation (NYSE: PRMW) with an affiliate of BlueTriton Brands, Inc. is fair to Primo Water shareholders. Upon closing of the proposed transaction, Primo Water shareholders and holders of incentive equity are expected to own 43% of the fully diluted shares of the combined company. Halper Sadeh encourages Primo Water shareholders to click here to learn more about their le.
North American packaged water companies Primo Water Corp and BlueTriton Brands said on Monday they would merge in an all-stock deal.
Primo Water Corp. PRMW, -1.76% PRMW, -1.86% and BueTriton Brands Inc., the parent of Poland Spring Deer Park water brands, announced Monday an agreement to merge, which would create a water giant with $6.5 billion in annual revenue. Shares of Florida-based Primo Water, which had a market capitalization of $3.6 billion at Friday's close, were still inactive in premarket trading.
Transformative all-stock transaction expected to present an estimated $200 million in run-rate cost synergies Combined company expected to have significant financial and operating leverage with $6.5 billion in Net Revenue and $1.5 billion in Adjusted EBITDA1, including estimated synergies, for the twelve-month period ended March 31, 2024 Increased presence, leading portfolio of iconic brands, diversified product offerings and enhanced distribution capabilities position the combined company for sustained long-term growth Primo Water intends to pay a special dividend of up to $133 million ($0.82/share)2 to its shareholders prior to closing TAMPA, Fla. and STAMFORD, Conn.
Primo Water's (PRMW) rising earnings estimates and investments for strengthening its infrastructure to efficiently meet demand of its expanding organic customer base make it a good pick in utility space.
Does Primo (PRMW) have what it takes to be a top stock pick for momentum investors? Let's find out.
Primo Water Corporation (NYSE:PRMW ) Q1 2024 Earnings Conference Call May 9, 2024 10:00 AM ET Company Participants Jon Kathol - Vice President-Investor Relations Robbert Rietbroek - Chief Executive Officer David Hass - Chief Financial Officer Conference Call Participants Nik Modi - RBC Capital Markets Andrea Teixeira - JPMorgan Dan Moore - CJS Securities John Zamparo - CIBC Steve Powers - Deutsche Bank Pavel Molchanov - Raymond James Derek Lessard - TD Securities Operator Good morning. My name is Joanna, and I will be your conference operator today.