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Stock Market & Financial Investment News

News Breaks
August 7, 2014
08:34 EDTMNTXManitex downgraded to Neutral from Buy at Global Hunter
Global Hunter downgraded Manitex citing the lower than expected Q2 earnings report. Price target lowered to $14 from $20.
News For MNTX From The Last 14 Days
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January 15, 2015
10:59 EDTMNTXManitex completes acquisition of PM Group, SpA
Manitex International (MNTX) announced that it has successfully completed its previously announced acquisition of PM Group S.p.A. The purchase price of $91M, which reflects exchange rate changes in effect at the closing, compares to the previously announced price of $107M, and consisted of cash consideration of $21M, assumed non-recourse debt of $60M, and one million shares of Manitex common stock. Financing for the cash portion of the purchase price was provided by Manitex's recently announced new bank credit facilities and the issuance of new convertible subordinated notes to institutional investors. David J. Langevin, Chairman and CEO of Manitex International, stated, "The PM acquisition is expected to be accretive to our net earnings in 2015 and beyond. The addition of PM, together with ASV, our new joint venture with Terex Corporation (TEX), positions Manitex to start 2015 at an annual sales run rate of approximately $500M."

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