Shares of New York-listed wind farm vessel player Eneti soared more than 5% on Friday on seven times typical volumes as investors reacted to its announcement of a $1.2bn all-shares merger with Oslo-listed Cadeler.
The wind turbine installation vessel (WTIV) owner’s stock hit a trading high of $13.43 in the first minutes of trading, a jump of 14.5%, before tailing off over the course of the trading day as the combination reviewed positive reviews from equity analysts.
