Previous Close | 27.60 |
Open | 32.40 |
Bid | 32.65 x 60000 |
Ask | 32.80 x 60000 |
Day's Range | 32.40 - 32.50 |
52 Week Range | 9.57 - 32.50 |
Volume | 100 |
Avg. Volume | 122 |
Market Cap | 1.691B |
Beta (5Y Monthly) | 1.27 |
PE Ratio (TTM) | 33.85 |
EPS (TTM) | 0.96 |
Earnings Date | N/A |
Forward Dividend & Yield | 0.50 (1.81%) |
Ex-Dividend Date | Oct 29, 2020 |
1y Target Est | N/A |
Moody's Investors Service says PPG Industries, Inc.'s ("PPG", A3 negative) proposed acquisition of publicly-traded Finland-based coatings company Tikkurila Oyj for E1.1 billion is somewhat aggressive within the expectations of the A3 rating. The combined effect of the proposed acquisition of Tikkurila and proposed acquisition of Ennis-Flint is expected outstrip free cash flow generated in 2020 and 2021, weakening credit metrics toward the established boundaries for the rating. Further acquisition activity could constitute credit negative developments if the company outspends internally-generated free cash flow in a way that weakens credit metrics beyond these levels.
PPG (NYSE:PPG) today announced that it has entered into a definitive agreement to acquire Tikkurila (NASDAQ OMX: TIK1V) in an all-cash transaction. Under the terms of the agreement, PPG will commence a tender offer to acquire all of the issued and outstanding stock of Tikkurila. Pursuant to the offer, Tikkurila shareholders will receive €25.00 in cash for each share of Tikkurila stock they own, for a total transaction value of approximately €1.1 billion, including the assumption of debt and cash. The transaction is expected to close in the second quarter of 2021, subject to customary closing conditions.
Unfortunately for some shareholders, the Tikkurila Oyj (HEL:TIK1V) share price has dived 30% in the last thirty days...