On March 11, 2024, KKR announced its acquisition of mdf commerce for C$255 million, offering shareholders C$5.80 per share in cash, a significant 58% premium to the closing price on the TSX three days prior. This strategic move is set to be finalized in the second quarter of the year.
mdf commerce’s eProcurement platform caters to over 6,500 government agencies and 650,000 suppliers in North America. The acquisition is intended to propel mdf commerce’s growth by tapping into KKR’s resources, relationships, and expertise in digital solutions. The collaboration between the two companies is anticipated to enhance mdf commerce’s platform with KKR’s backing.
John Park, a Partner at KKR, is optimistic about the potential for growth in mdf commerce’s eProcurement platform, particularly as governments increasingly embrace digital solutions.
KKR & Co. Inc. (KKR) Sees Mixed Day on March 11, 2024: Stock Trading Near 52-Week High
KKR & Co. Inc. (KKR) had a mixed day on March 11, 2024, as the stock opened lower than its previous close but traded near the top of its 52-week range. The stock opened at $97.54, which was $1.11 lower than its previous close. Throughout the trading day, KKR shares experienced a price drop of $0.95, representing a 0.96% decrease from the previous market close.
Despite the price drop on March 11, KKR is still trading above its 200-day simple moving average, indicating that the stock has been on an upward trend over the long term. Additionally, the fact that KKR is trading near the top of its 52-week range suggests that the stock has been performing well compared to its historical prices.
Investors may be interested in KKR for its strong price momentum and potential for further growth. However, it is important for investors to conduct their own research and consider their risk tolerance before making any investment decisions.
KKR Stock Performance Analysis: Revenue Surges 210% in 2024
On March 11, 2024, KKR’s stock performance showed some interesting trends based on the company’s financial data. According to CNN Money, KKR reported a total revenue of $16.45 billion for the past year, which represents a significant increase of 210.96% compared to the previous year. Additionally, the company’s total revenue for the fourth quarter was reported at $6.34 billion, showing a 106.43% increase compared to the previous quarter.
In terms of net income, KKR reported a net income of $3.73 billion for the past year, which represents a remarkable increase of 543.72% compared to the previous year. However, the net income for the fourth quarter was reported at $1.04 billion, showing a decrease of 30.18% compared to the previous quarter.
Earnings per share (EPS) for KKR also showed some interesting trends. The company reported an EPS of $4.09 for the past year, which represents a significant increase of 437.1% compared to the previous year. However, the EPS for the fourth quarter was reported at $1.14, showing a decrease of 30.41% compared to the previous quarter.
