Cool Company Stock Surges on $9.65 Per Share Take-Private Offer
Majority shareholder EPS Ventures' proposal represents a 26% premium, aiming to take the LNG carrier company private.
Cool Company Ltd. (NYSE: CLCO) saw its shares jump after the company announced it is in advanced discussions for a take-private deal with its majority shareholder, EPS Ventures Ltd. The proposed cash merger would see EPS acquire all outstanding shares it doesn't already own for $9.65 per share.
The offer represents a significant on September 22, 2025. According to the announcement, the price also reflects a 38% premium to the 90-day volume-weighted average share price, signaling a strong valuation from its principal backer.
EPS Ventures, which currently holds a 59.3% stake in the liquefied natural gas (LNG) carrier operator, plans to consolidate its ownership and take the company private. Upon completion of the transaction, Cool Company would become a wholly-owned subsidiary of EPS Ventures and would subsequently be .
To ensure fairness and protect the interests of minority shareholders, CoolCo's Board of Directors has formed an . The committee, comprised entirely of disinterested directors, has engaged its own legal and financial advisors to negotiate the terms. Subject to finalizing a definitive agreement, the committee intends to recommend the merger for shareholder approval.
The deal is structured as a cash merger under Bermuda law, with both parties targeting a closing in the fourth quarter of 2025 or the first quarter of 2026. The transaction remains subject to customary closing conditions, including the approval from a majority of CoolCo's common shareholders.