Market Buzz: Takeover Bid for System1's Unit; Photronics Misses Estimates
- September 06th, 2023
- 333 views
System1, Inc. (NYSE: SST) said that it has received a non-binding acquisition offer from Just Develop It Limited for Total Security Limited, a System1 company.
The proposal includes $240 million in cash, the assumption of potential earnout payments, and the transfer of around 29 million System1 shares held by Just Develop It and associated parties.
$SST was trading at $2.34 in pre-market, up $0.50 (+27.17%) following the announcement.
In other news, Photronics, Inc. (Nasdaq: PLAB), a semiconductor manufacturing company, reported third-quarter fiscal 2023 earnings of $0.51 per share, slightly below the consensus EPS estimate of $0.52. The company's quarterly sales amounted to $224.21 million, falling short of analysts' projected revenue of $230.00 million.
In pre-market, $PLAB was trading at $22.28, down $1.22 (-5.19%).
THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)
Post Your Comments
Want To Find Some News?
Recent Posts
-
JPMorgan, Wells Fargo, and BlackRock Set for Quarterly Showdown
July 13th, 2025Congress Confirms New FAA Administrator Bryan Bedford
July 11th, 2025
Member Login