11:14 AM EDT, 08/08/2024 (MT Newswires) -- GSE Systems ( GVP ) shares surged about 45% in recent trading on Thursday after the company said it has struck a deal for Pelican Energy Partners to acquire GSE for $4.10 per share in an all-cash transaction.

"While the long-term prospects of the nuclear industry remain strong, the short-term business challenges to remain competitive in the current pace of growth of the power industry make this transaction the best outcome for our shareholders," said Chair of the board Kathryn O'Connor Gardner.

GSE said the board has approved the merger agreement. It expects to close the deal in Q3 or Q4.

On completion, GSE will become a private company, GSE said.

Price: 3.96, Change: +1.23, Percent Change: +45.05