POTENTIAL DEAL DETAILS
Stock | Renewable Energy Group, Inc. | Symbol | REGI |
Date Announced | 02/23/2022 | Source | Bloomberg |
Type | Company Seeking Strategic Alternatives |
Date of Confirmation: | 02/28/2022 | Price at Confirmation: | $60.80 |
Potential Profit: | 47.22% | Annualized Profit: | 3446.73% |
Renewable Energy Group Inc. (REGI), a green diesel maker, is exploring options after receiving takeover interest, including selling itself, according to a person familiar with the matter.
Update(s):
February 25, 2022: Chevron Corp. (CVX) is in advanced talks to buy Renewable Energy Group Inc. (REGI) for about $3 billion, according to people familiar with the matter, as the oil major looks to make a big bet on green diesel.
February 28, 2022: Chevron Corporation (CVX) and Renewable Energy Group, Inc. (REGI) announced a definitive agreement under which Chevron will acquire the outstanding shares of REG in an all-cash transaction valued at $3.15 billion, or $61.50 per share.
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