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Stock Market & Financial Investment News

News Breaks
June 16, 2014
05:12 EDTAMTAmerican Tower acquires BR Towers in Brazil for $978M
American Tower announced that it has reached an agreement with GPCP V, a private equity fund managed by GP Investments, FIP Multisetorial Plus, a private equity fund managed by Bradesco BBI, and other shareholders, to acquire 100% of the equity interests of BR Towers S.A., a Brazilian telecommunications real estate company that is expected to own approximately 2,530 towers and the exclusive use rights for approximately 2,110 additional towers in Brazil at closing. The purchase price of approximately $978M, subject to customary adjustments, will be satisfied with a combination of cash and the assumption of certain existing indebtedness. American Tower anticipates that the towers will generate approximately $131M in annual run rate revenues and approximately $81M in annual Gross Margin and anticipates that the acquisition will be immediately accretive to Adjusted Funds From Operations upon closing. The transaction is expected to close in Q4.
News For AMT From The Last 14 Days
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April 1, 2015
07:42 EDTAMTAmerican Tower upgraded to Strong Buy from Outperform at Raymond James
As previously reported, Raymond James upgraded American Tower to Strong Buy from Outperform. The firm expects 2H and 2016 leasing trends to benefit from T-Mobile low-band spectrum deployment, Spring expanding its high-band overlay, AT&T and Verizon capex, reduced Nextel churn, and the potential build-out of FirstNet's network. Raymond James views American Tower's recent underperformance as an attractive opportunity to play the above trends and raised its price target to $114 from $112.
07:29 EDTAMTAmerican Tower resumed with an Overweight at JPMorgan
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06:40 EDTAMTAmerican Tower upgraded to Strong Buy from Outperform at Raymond James
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March 30, 2015
07:30 EDTAMTAmerican Tower closes Verizon transaction
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