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Stock impact report

Federal Signal to Acquire New Way Trucks; Expand Specialty Vehicle Platform into Refuse Collection Vehicles [Yahoo! Finance]

Federal Signal Corporation (FSS) 
Last federal signal corporation earnings: 4/29 08:00 am Check Earnings Report
US:NYSE Investor Relations: federalsignal.com/investors
Company Research Source: Yahoo! Finance
the "Company"), a leader in environmental and safety solutions, today announced that it has signed a definitive agreement to acquire Scranton Manufacturing Company Inc. d/b/a New Way Trucks ("New Way"), a leading U.S.-based designer and manufacturer of refuse collection vehicles, for an initial purchase price of $396 million. As part of the acquisition, the Company will also pay additional consideration of $30 million for New Way's manufacturing facilities and associated real estate rights in Iowa and Mississippi. The initial purchase price assumes a cash-free, debt-free transaction, and is subject to certain post-closing adjustments. In addition, there is a contingent earn-out opportunity of up to $54 million, based on the achievement of certain specified financial targets over a two-year period. When adjusted for the present value of anticipated tax benefits, currently estimated at approximately $60 million, the combined initial purchase price represents a multiple of approximatel Show less Read more
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