Archrock (AROC) has shared an update.
Archrock, Inc. has struck a deal to acquire Total Operations and Production Services, LLC, involving a mix of cash, stock, and deferred cash payments totaling over $826 million. The acquisition, approved unanimously by Archrock’s board and expected to close by end of 2024, hinges on customary closing conditions and regulatory approvals. Additionally, the deal includes post-closing arrangements like registration rights, lock-up agreements for stock consideration, and deferred cash payments tied to employee retention. This strategic move is poised to significantly impact Archrock’s financial standing, offering potential benefits such as EBITDA growth, improved leverage ratios, and enhanced dividend prospects.
Learn more about AROC stock on TipRanks’ Stock Analysis page.
