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Stock Market & Financial Investment News

News Breaks
January 6, 2014
08:01 EDTINTWorld Fuel Services to acquire Watson Petroleum for $191M
World Fuel Services announced that a wholly-owned subsidiary of the company has signed a definitive agreement to acquire Watson Petroleum Limited, a distributor of gasoline, diesel, heating oil, lubricants and other products and related services across England and Wales, for a purchase price of GBP117M, or $191M. The purchase price will be funded through cash-on-hand and the company’s existing credit facilities. The transaction is expected to be 18c-22c accretive to earnings on a GAAP basis in the first twelve months. Non-GAAP accretion, which excludes amortization of acquired intangible assets of approximately 10c per share, is expected to be 28c-32c in the first twelve months. The transaction is subject to customary regulatory consents and closing conditions and is expected to be completed within the next ninety days.
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April 11, 2014
08:33 EDTINTWorld Fuel Services says Executive Chairman Stebbins to step down
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