Jul. 2 at 11:57 PM
Centrus Energy announced it will be added to the S&P SmallCap 600 after S&P Dow Jones Indices selected the company to replace Whitestone REIT, with the change taking effect before the market opens on July 14. The move is linked to Ares Management’s pending acquisition of Whitestone, which is expected to close around the same date, subject to customary closing conditions.
Inclusion in a major equity index often benefits newly added companies by increasing their visibility and triggering buying from index-tracking funds that must adjust their portfolios to match the benchmark.
Separately, S&P Dow Jones Indices said Midera Food Processing will replace Redwood Trust in the S&P SmallCap 600 before trading begins on July 8. The change follows Midera’s spinoff from The Middleby Corp., a member of the S&P MidCap 400, with the transaction expected to be completed on July 7.
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