Mustang Energy Plc (GB:MUST) has released an update.
Mustang Energy Plc announces a recommended all-share offer to acquire Cykel AI Plc, aiming to complete the acquisition through a court-sanctioned scheme of arrangement. The agreement values Cykel AI at approximately £19.22 million, with Cykel shareholders receiving 1.911 new Mustang shares for each Cykel share they hold. This strategic move, expected to be completed in the second quarter of 2024, will allow Mustang to tap into the rapidly growing AI sector and is believed to provide significant benefits to shareholders and stakeholders of the combined group.
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