Solaris Oilfield Infrastructure (SOI) to Acquire Mobile Energy Rentals, Issues Q2 Update
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 6/24/2026
- Wall Street ends lower on semiconductor selloff as AI spending concerns mount
- Alphabet added to Dow Jones Industrial Average, Verizon dropped
- Chip stocks plunge, but bargain-hunters limit scale of tech rout
- FedEx falls 4% as CY2026 profit forecast misses expectations despite Q4 beat
- Oil prices finish 1% lower as investors focus on Hormuz flows after peace talks
- Needham Starts NeoVolta (NEOV) at Buy
- NextEra to discuss paying about $76 per share for Dominion, Bloomberg News reports
- Wall Street ends lower on semiconductor selloff as AI spending concerns mount
- Campbell Soup (CPB) Declares $0.39 Quarterly Dividend; 7.7% Yield
- China, US, UAE police arrest 276 telecom fraud suspects in Dubai
Solaris Announces Agreement to Acquire Mobile Energy Rentals; Announces Renaming to Solaris Energy Infrastructure; Issues Second Quarter Financial Update
July 9, 2024 5:47 PM EDTHOUSTON--(BUSINESS WIRE)-- Solaris Oilfield Infrastructure, Inc. (NYSE: SOI) (Solaris or the Company), today announced that it has entered into a definitive agreement to acquire Mobile Energy Rentals LLC (MER), a premier provider of distributed power solutions serving the energy and commercial & industrial (C&I) end-markets, for a purchase price of $200 million. Transaction consideration includes $60 million of cash and the issuance of approximately 16.5 million shares of Solaris Class B common stock to MERs founders and management team, who will join Solaris post-closing.
Transaction Highlights and Strategy
Scale, end-market diversity, and contractual... More