U.S. Silica downgraded to Hold from Buy at Jefferies Jefferies downgraded U.S. Silica citing the company's lack of progress in managing logistics and weaker than expected volumes of higher-grade sand. The firm lowered its price target for shares to $31 from $41.
News For SLCA From The Last 14 Days
Check below for free stories on SLCA the last two weeks.
U.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.