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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
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August 7, 2014
08:28 EDTCORECore-Mark raises FY14 EPS excluding LIFO expense $2.12-$2.20 from $2.07-$2.15
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08:26 EDTCORECore-Mark reports Q2 EPS 52c, consensus 64c
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