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GSE Solutions ("GSE Systems, Inc." or "GSE") (NASDAQ:GVP), a leader in advanced engineering solutions that supports the future of clean-energy production and decarbonization initiatives of the power industry, announced today that it has entered into a definitive merger agreement to be acquired by Pelican Energy Partners ("Pelican") in an all-cash transaction. Under the terms of the merger agreement, which was unanimously approved by the board of the directors of GSE, Pelican will acquire all the outstanding shares of GSE for an estimated total cash consideration of $4.10 per share. The consideration per share represents a premium of approximately 50% to GSE's closing share price as of August 7, 2024.
The company plans on filing a proxy statement regarding the proposed transaction with the Securities and Exchange Commission (SEC) and the transaction is expected to close in the third or fourth quarter of 2024, subject to the approval by shareholders of GSE and the satisfaction of other customary closing conditions.
Posted In: GVP
