Brief: Titan Machinery Acquires Heartland AG Systems

Titan Machinery

11/07/2022 12:42

July 11 (Reuters) - Titan Machinery Inc  TITN.O :
    * TITAN MACHINERY INC. ANNOUNCES STRATEGIC ACQUISITION OF
HEARTLAND AG SYSTEMS
    * TITAN MACHINERY INC - UPDATES FISCAL 2023 MODELING
ASSUMPTIONS
FOR TRANSACTION
    * TITAN MACHINERY INC - ACCRETIVE ACQUISITION OF
APPROXIMATELY
$0.43 IN RUN-RATE EARNINGS PER SHARE, INCLUDING REVENUE
SYNERGIES
    * TITAN MACHINERY INC - DEFINITIVE AGREEMENT TO ACQUIRE
HEARTLAND
CONTEMPLATES AN ACQUISITION PRICE OF APPROXIMATELY $110 MILLION
    * TITAN MACHINERY INC - IT IS ANTICIPATED THAT ALL OF
HEARTLAND'S
340 EMPLOYEES WILL JOIN TITAN MACHINERY
    * TITAN MACHINERY INC - HEARTLAND'S MANAGEMENT TEAM IS
EXPECTED TO
REMAIN IN PLACE THROUGHOUT AND FOLLOWING INTEGRATIO
    * TITAN MACHINERY INC SEES 2023 DILUTED EPS OF $2.90 - $3.20
AS
PART OF MODELING ASSUMPTION, WHICH REFLECT PARTIAL YEAR
ACCRETION OF DEAL

Source text for Eikon:  ID:nGNXc7hW4M 
Further company coverage:  TITN.O 

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