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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.
July 11, 2014
08:19 EDTAPOApollo Global valuation attractive after pullback, says BMO Capital
After meeting with Apollo Global's CFO, BMO Capital is upbeat about the company's outlook. The firm expects the company's credit business to be a growth driver for years to come, although its private equity business is expected to show very slow growth, according to BMO Capital. The firm raised its price target on the shares to $36 from $35 and keeps an Outperform rating,
July 10, 2014
11:21 EDTAPOInternational Game Technology rises as GTECH reportedly prepares bid
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