Titan Machinery has best day in 13 mths on takeover bid for farm equipment maker

Titan Machinery

11/07/2022 17:14

** Shares of Titan Machinery Inc  TITN.O , a chain of
construction equipment stores, up nearly 12% at $25.57
    ** Stock sees biggest intraday pct gain since May 2021
    ** Co says will acquire farm equipment maker Heartland Ag
Systems in $110 mln deal, which is expected to close in August
 urn:newsml:reuters.com:*:nGNXc7hW4M
    ** TITN sees deal adding $274 mln to revenue annually,
expects to expand its share of agriculture equipment market
    ** YTD, TITN stock has lost nearly 25%

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))