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$ENS Is a 166% premium for Ultralife worth it when EnerSys expects EPS accretion within about 18 months after closing?
🏢 EnerSys, a battery maker for industry, data centers and defense worth about $6.28B at $174.13 (16:00 ET, Oct 27, 2026), agreed to buy Ultralife for $16.00 a share in cash, about $320M of enterprise value
⚠️ The price is a 166% premium to Ultralife's unaffected Oct 26 close and about 1.7 times the $191M of revenue Ultralife booked in fiscal 2025
📈 In return, EnerSys targets $15M–$20M of annual run-rate cost synergies within 18 months, about 8%–10% of Ultralife's fiscal 2025 revenue, plus U.S.-based, FEOC-compliant defense battery capacity
📅 Next: A tender offer needs a majority of Ultralife shares plus regulatory approvals, with closing expected in the first quarter of calendar year 2027
Source: Business Wire release, Oct 27 + SEC 8-K, Aug 12
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