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Stock Market & Financial Investment News

News Breaks
May 29, 2014
04:55 EDTSHW, SHW, FOE, FOE, RPM, RPM, PPG, PPGCredit Suisse to hold a field trip
Coatings Field Trip travels throughout Cleveland, Ohio to visit with various companies on May 29-30.
News For SHW;FOE;RPM;PPG From The Last 14 Days
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September 3, 2015
07:50 EDTFOEFerro to buy Al Salomi for Frit and Glazes
Ferro Corporation announced that it has signed a definitive agreement with the shareholders of Egypt-based tile coatings manufacturer Al Salomi for Frit and Glazes to acquire 100% of the equity of Al Salomi on a cash-free and debt-free basis, for approximately $39M in cash, subject to working capital and other customary adjustments. The transaction will be funded with excess cash and a draw on the company's revolving credit facility. The transaction is expected to close within the next 60 days, subject to customary closing conditions. Based on 2014 EBITDA, excluding expected synergies, the acquisition purchase price represents a transaction multiple of approximately 8.5. Including synergies and the commercial benefits associated with the two additional frit production lines now under construction, the transaction multiple would be approximately 5.7. The transaction is not expected to significantly impact Ferro's 2015 earnings but is expected to be accretive to adjusted diluted earnings per share by 3c-6c in 2016. Ferro expects the investment will achieve a return on invested capital of greater than 10% initially, and believes the return on invested capital will reach 15% once the capacity being added is fully utilized.
August 25, 2015
09:59 EDTSHWOn The Fly: Analyst Upgrade Summary
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06:22 EDTSHWSherwin-Williams upgraded to Buy from Neutral at Sterne Agee CRT
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August 20, 2015
08:30 EDTPPGPPG Industries to acquire remaining interest in Chemfil Canada JV
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