Astrotech Shares Rise 9% After Unsolicited Acquisition Proposal

By Stephen Nakrosis

Astrotech Corp. shares were trading higher in Tuesday’s after-hours market, following news the company received an unsolicited, non-binding acquisition proposal from BML Investment Partners.
The proposal would see BML Investment acquire all outstanding shares of Astrotech common stock for cash consideration of $17.25 per share, the mass spectrometry company said.

Astrotech’s shares closed the day’s regular session with a 12.65% gain, climbing to $13.
In the after-hours market, Astrotech’s shares had risen 9.15% at 5:39 p.m. ET to trade at $14.19.
Astrotech said its board will evaluate the non-binding proposal.
Write to Stephen Nakrosis at [email protected]