Why StarTek Shares Are Trading Higher Today?

Why StarTek Shares Are Trading Higher Today?
  • CSP Management Ltd and affiliates sent a non-binding proposal to StarTek, Inc SRT to acquire all the shares of Startek that CSP does not already own for $4.65 per share in cash. 
  • The offer price implies a 41.8% premium on StarTek's August 8 closing price of $3.28.
  • CSP is currently the beneficial owner of 56% of the outstanding shares of Startek. 
  • This new proposal constitutes a revision of CSP's non-binding proposal, dated December 20, 2021, to acquire all the shares of Startek for $5.40 per share in cash. 
  • CSP failed to arrange a debt and equity financing package on terms acceptable to CSP for its proposal, dated December 20, 2021.
  • Price Action: SRT shares traded higher by 11.90% at $3.67 on the last check Tuesday.

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