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Stock Market & Financial Investment News

News Breaks
February 11, 2014
09:02 EDTSLCA, CEC, APOU.S. Silica to replace CEC Entertainment in the S&P SmallCap 600
S. Silica Holdings (SLCA) will replace CEC Entertainment (CEC) in the S&P SmallCap 600 after the close of trading on Friday, February 14. An affiliate of Apollo Global Management (APO) is acquiring CEC Entertainment in a deal expected to be completed soon pending final conditions. U.S. Silica Holdings mines, processes, and sells commercial silica. Headquartered in Frederick, MD, the company will be added to the S&P SmallCap 600 GICS Diversified Metals & Mining Sub-Industry index.
News For SLCA;CEC;APO From The Last 14 Days
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July 18, 2014
07:27 EDTSLCAU.S. Silica price target raised to $69 from $54 at Jefferies
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July 17, 2014
07:51 EDTSLCAU.S. Silica to host conference call
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July 16, 2014
17:09 EDTSLCAU.S. Silica to acquire Cadre Services for $98M cash
U.S. Silica Holdings announced that it has signed a stock purchase agreement to acquire all of the outstanding shares of Cadre Services for approximately $98M in cash. Closing is expected by the end of the month. The purchase price of $98M, less the net present value of approximately $14M in deferred tax assets, results in $84M of net consideration. Adjusted LTM EBITDA of $11.1M represents a purchase price multiple of 7.6 times. Projected 2015 Adjusted EBITDA of approximately $18M after synergies and the benefit of a full year of sales from the March capacity expansion represents a purchase price multiple of 4.7 times. This would result in Adjusted EPS accretion of 11c-13c per share in 2015.

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