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No. of Recommendations: 2
Their debt/EBITDA was already at ridiculously low levels, 3.x or so, so they could have easily NOT taken on more debt and funded the deal with equity that they had already issued in the prior months in anticipation of THIS deal. They are absolutely taking advantage of tremendously low equity financing here. That's what they ought to be doing even if they don't have an immediate deal in the works. If you have to issue equity to grow, you take advantage of what the market offers you when you can get it. They're being smart here, I think.

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