Shares of Nexeo Solutions (NASDAQ:NXEO) rose nearly 17% today after the company announced that it had agreed to terms to be acquired by chemical and food ingredients distributor Univar (NYSE:UNVR). The proposed cash and stock deal has a total price tag of $2 billion, although that includes all of the smaller player's debt and other obligations.
The net acquisition price works out to $11.65 per share, or a market cap of roughly $1.05 billion, comprising cash and stock. For each share of Nexeo Solutions owned, shareholders will receive $3.29 in cash plus 0.305 shares of Univar.
As of 2:10 p.m. EDT, Nexeo Solutions stock had settled to a 14.7% gain. Univar shares had gained 2.8%.
Image source: Getty Images.
So whatThe combination is expected to deliver an immediate reduction in annual capital expenditures of about $15 million and up to $100 million in annual run rate cost synergies by the third year of integration. Successfully achieving the cost synergies will be critical to maintaining the profitable growth streak of Univar, which reported a 49% year-over-year increase in operating income in the first half of 2018.
Top Growth Stocks For 2019: MYR Group Inc.(MYRG)
Advisors' Opinion:- [By Joseph Griffin]
Get a free copy of the Zacks research report on MYR Group (MYRG)
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- [By Logan Wallace]
Get a free copy of the Zacks research report on MYR Group (MYRG)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Logan Wallace]
MYR Group (NASDAQ:MYRG) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
- [By Logan Wallace]
Shares of MYR Group, Inc. (NASDAQ:MYRG) have been given a consensus recommendation of “Hold” by the ten analysts that are currently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $35.83.
- [By Ethan Ryder]
MYR Group, Inc. (NASDAQ:MYRG) Director William A. Koertner sold 11,768 shares of the firm’s stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $39.15, for a total transaction of $460,717.20. Following the transaction, the director now directly owns 315,012 shares in the company, valued at $12,332,719.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
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Advisors' Opinion:- [By Shane Hupp]
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- [By Logan Wallace]
Spok (NASDAQ: SPOK) and Mobil’nye Telesistemy PAO (NYSE:MBT) are both computer and technology companies, but which is the better stock? We will contrast the two businesses based on the strength of their valuation, analyst recommendations, earnings, dividends, profitability, risk and institutional ownership.
Top Growth Stocks For 2019: Veritiv Corporation(VRTV)
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