10:57 AM EST, 11/12/2024 (MT Newswires) -- Adams Resources & Energy ( AE ) said Tuesday it has agreed to be bought by an affiliate of Tres Energy in an all-cash deal valued at about $138.9 million.

Under the terms of the deal, Adams Resources shareholders will receive $38 per share for each share of the company they hold.

The deal is expected to close in Q1, subject to approval by Adams Resources shareholders.

Upon deal closing, Adams Resources will become a privately held company and its stock will no longer be listed on the New York Stock Exchange.

Shares of Adams Resources rose more than 36% in recent trading activity.

Price: 37.23, Change: +9.91, Percent Change: +36.26