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Stock Market & Financial Investment News

News Breaks
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.
News For SLCA From The Last 14 Days
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August 29, 2014
13:10 EDTSLCAU.S. Silica volatility flat as shares advance to record high
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August 28, 2014
09:04 EDTSLCAU.S. Silica price target raised ot $80 from $59 at Morgan Stanley
Morgan Stanley raised U.S. Silica's price target to $80 and said it continues to be a top Overweight small-cap pick. The firm expects a multi-year frac sand shortage and for demand to nearly double in 2016 vs. 2013. The analyst believes industry capacity growth is being held back by distribution issues and believes U.S. Silica has strong logistic capabilities and pricing power.

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