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Stock Market & Financial Investment News

News Breaks
July 7, 2014
16:23 EDTMICMacquarie Infrastructure to acquire remainder of IMTT for $1.025B in cash, stock
Macquarie Infrastructure Company, or MIC, announced that it has entered into an agreement to acquire the 50% of International-Matex Tank Terminals, or IMTT, it does not currently own. Under the terms of the agreement, MIC will purchase the remainder interest from members of the business’ founding family for $910M in cash and $115M in stock. MIC acquired its initial 50% stake in IMTT in May of 2006. MIC expects the acquisition to be accretive to its Free Cash Flow per share in 2014. The company does not expect the transaction to close before late July.
News For MIC From The Last 14 Days
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August 14, 2015
07:29 EDTMICMacquarie Infrastructure shares should be bought on weakness, says SunTrust
Noting that Macquarie has dropped 7% since reporting its Q2 results on August 4, Oppenheimer says that the decline was due to a drop in yield vehicles and a complex earnings call. However, the firm contends that the company's guidance is conservative, while its underlying cash flows could rise at least 14% annually. Oppenheimer keeps a $100 price target and Outperform rating on the shares.

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