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Stock Market & Financial Investment News

News Breaks
March 24, 2014
07:02 EDTAMRIAMRI to acquire Cedarburg Pharmaceuticals for $38.2M
AMRI announced that it has signed a definitive agreement to acquire all the outstanding shares of Cedarburg Pharmaceuticals for $38.2M in cash. The transaction, including $2.8M of assumed liabilities, is valued at $41M. Cedarburg Pharmaceuticals is a contract developer and manufacturer of technically complex active pharmaceutical ingredients for both generic and branded customers. On a stand-alone basis, Cedarburg's forecasted full year 2014 revenue is approximately $19M, with adjusted EBITDA between $5.5M and $5.7M, implying a purchase price multiple of approximately 2 times 2014 revenue and approximately 7 times 2014 adjusted EBITDA at the midpoint of the range. The transaction is expected to close in early April 2014. Based on the anticipated timing of the close, the acquisition is expected to add between $13M-$14M to AMRI's revenue in 2014. AMRI anticipates full year run-rate synergies of approximately $1.5M of EBITDA within 12 months of closing and the acquisition is expected to be accretive to AMRI's 2014 adjusted diluted EPS in the range of 6c-7c per share. The acquisition and associated fees are expected to be financed through cash currently held by AMRI.
News For AMRI From The Last 14 Days
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September 9, 2014
10:10 EDTAMRIOn the Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AMC Entertainment (AMC) initiated with a Hold at Topek... AMRI (AMRI) initiated with an Overweight at JPMorgan... Alcoa (AA) initiated with an Outperform at Bernstein... Alumina (AWC) initiated with a Market Perform at Bernstein... American Airlines (AAL) initiated with an Outperform at Credit Suisse... Catalent (CTLT) initiated with a Buy at BofA/Merrill... Chimerix (CMRX) initiated with a Buy at Cantor... Delta Air Lines (DAL) initiated with an Outperform at Credit Suisse... Enable Midstream (ENBL) initiated with an Outperform at BMO Capital... Enbridge Energy (EEP) initiated with a Market Perform at BMO Capital... Endocyte (ECYT) initiated with a Buy at Cantor... EnerNOC (ENOC) initiated with an Outperform at Pacific Crest... Enterprise Products (EPD) initiated with an Outperform at BMO Capital... Good Times Restaurants (GTIM) initiated with a Buy at Roth Capital... JetBlue (JBLU) initiated with an Underperform at Credit Suisse... Kinder Morgan Energy (KMP) initiated with a Market Perform at BMO Capital... MEI Pharma (MEIP) initiated with a Buy at Cantor... ONEOK Partners (OKS) initiated with a Market Perform at BMO Capital... Southwest (LUV) initiated with a Neutral at Credit Suisse... Spectra Energy Partners (SEP) initiated with an Outperform at BMO Capital... TC PipeLines (TCP) initiated with a Market Perform at BMO Capital... TECO Energy (TE) initiated with a Neutral at Citigroup... Targa Resources Partners (NGLS) initiated with a Market Perform at BMO Capital... United Continental (UAL) initiated with an Outperform at Credit Suisse... Weibo (WB) initiated with a Buy at T.H. Capital... Williams Partners (WPZ) initiated with a Market Perform at BMO Capital.
05:49 EDTAMRIAMRI initiated with an Overweight at JPMorgan
Target $25.

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