Tecogen (TGEN) Enters Agreement to Acquire DG Energy (ADGE)
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Tecogen to Acquire American DG Energy
November 2, 2016 8:00 AM EDTWALTHAM, Mass., Nov. 2, 2016 /PRNewswire/ -- Tecogen Inc. (NASDAQ: TGEN) ("Tecogen") and American DG Energy Inc. (NYSE MKT: ADGE) ("American DG") today announced that their Boards of Directors unanimously approved a definitive agreement under which Tecogen will acquire all of the outstanding shares of American DG in a stock-for-stock merger. Each share of American DG common stock will be exchanged for 0.092 shares of Tecogen common stock, valuing American DG at an approximately 27% premium to the company's most recent closing share price. The transaction creates a vertically... More
