New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 10, 2012
08:33 EDTCORECore-Mark acquires J.T. Davenport & Sons for $45M to add over $600M in revenues
Core-Mark Holding announced that it has signed a Definitive Stock Purchase Agreement to acquire J.T. Davenport & Sons located in Sanford, North Carolina. The transaction is structured as an all-cash stock acquisition pursuant to which Davenport will become a wholly-owned, indirect subsidiary of Core-Mark. The purchase price is estimated to be approximately $45M, predicated on the value of certain assets and liabilities to be determined at closing. No debt is being assumed in this transaction. Core-Mark will fund this purchase with a combination of cash on hand and borrowings under its $200M revolving credit facility. The deal is expected to close by the end of 2012 and is expected to be accretive in 2013, excluding approximately $2.5M in start-up and conversion costs, a portion of which will be incurred in 2012.
News For CORE From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
There are no results for CORE

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use