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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 19, 2015
13:16 EDTINTWorld Fuel Services could rise 15%, Barron's says
Shares of World Fuel Services could rise as much as 15% in the coming months, Barron's contends in a feature article. Following the bankruptcy of its competitor O.W. Bunker, World Fuel has gained price flexibility and its customers may look to increase fuel purchases to hedge against volatile oil swings, Barron's argues. Reference Link

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