Bradley L. Radoff, who collectively with his affiliates owns approximately 9.9% of the outstanding shares of GSE Systems Inc. (GVP), sent a letter to GSE Systems' Board of Directors indicating its opposition to the proposed take-private merger with Pelican Energy Partners.
Bradley believes the proposed sale to Pelican significantly undervalues the Company and puts leadership's interests ahead of shareholders' best interests.
In August 2024, GSE Systems announced that it finalized a merger agreement to be acquired by Pelican Energy Partners in an all-cash deal. The agreement values the company at $4.10 per share, representing a 50% premium over its closing price on August 7, 2024. Following the merger, GSE will transition to a private entity and will be delisted from Nasdaq.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.