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Just saw this:

GE Accelerates Growth in Mining with Planned Acquisitions of Equipment Makers Industrea Ltd. and Fairchild International

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Additional info from WSJ:

"It’s a good day to be an Industrea shareholder.

The mining services firm jumped 43.6% to a one-year high of A$1.23 a share following a A$1.27 a share offer from General Electric Co. which values the company at around US$466 million. GE’s offer values Industrea at about A$700 million, including debt.

The offer — a 48% premium to Tuesday’s closing price — was recommended by Industrea’s board in the absence of a superior offer and subject to an independent expert concluding it is in the best interests of shareholders.

“Existing shareholders have had a nice kick today but whether there will be a bidding war is something I’d argue is less likely because the likes of the major mining manufacturers have plenty of organic expansion opportunities,” Moelis & Co. analyst Adam Michell told Deal Journal Australia.

“GE, as a new entrant, are willing to pay a full price to get this small yet established footprint in the mining equipment space,” he added."
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That comes out to about $24.60 for those that bought the Pink Sheet version, which is still below our original recommendation price of $26.90, but a nice 20% premium for those that bought following our 2012 Big Book of Wild Cards (and bigger if you bought even more recently).

However, this still looks like GE is getting a deal as the purchase price is just over 5x forecast EBITDA.
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