Kodiak Gas Services, Inc. (KGS) shares gained 5.56 percent, up $2.36, to $44.77 on Thursday after the company announced a definitive agreement to acquire Distributed Power Solutions, LLC in a transaction valued at approximately $675 million.
The stock was trading at $44.77, compared with a previous close of $42.41. Shares opened at $43.70 and moved between an intraday low of $43.70 and a high of $46.98 on the New York Stock Exchange. Trading volume stood at about 2.40 million shares, above the average daily volume of roughly 1.56 million shares.
Kodiak said the deal includes $575 million in cash and the issuance of about $100 million in common stock to the sellers.
The stock is trading within its 52-week range of $29.25 to $48.14.
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