A British provider of electric vehicle charging infrastructure to Amazon is racing to conclude a merger with a US blank-check company amid increasingly torrid market conditions for such deals, Sky News reports.
EO Charging has extended the deadline for a $675 million transaction to combine with First Reserve Sustainable Growth until mid-March.
Sources said the amended merger agreement required the deal to be finalised by March 11, although there were doubts about whether that deadline would be met.
In the announcement of its merger with First Reserve last August, EO Charging said the transaction was “expected to close in the fourth calendar quarter of 2021.” One source suggested that any further delays were likely to put the deal at risk. Read more.
