Elementis to buy Mondo for enterprise value of $600 mln [Reuters]
ELEMENTIS PLC UNSP/ADR (ELMTY)
NASDAQ:AMEX Investor Relations:
elementisplc.com/investors/regulatory-announcements
Company Research
Source: Reuters
Elementis PLC (ELM.L) Key Developments | Reuters.com June 29 (Reuters) - Elementis Plc ::PROPOSED $600 MLN ACQUISITION & $280M RIGHTS ISSUE.REACHED AN AGREEMENT IN PRINCIPLE IN RELATION TO PROPOSED ACQUISITION OF MONDO MINERALS B.V..OFFER PRICE VALUES MONDO AT AN ENTERPRISE VALUE OF $600 MILLION ON A CASH FREE, DEBT FREE BASISDEAL TO BE IMMEDIATELY ACCRETIVE TO ELEMENTIS' EBITDA MARGINS.BOARD EXPECTS TO BE ABLE TO MAINTAIN ELEMENTIS' EXISTING DIVIDEND POLICY FOLLOWING COMPLETION OF ACQUISITION.DEAL TO BE ACCRETIVE TO ADJUSTED EARNINGS PER SHARE IN FIRST FULL YEAR OF OWNERSHIP.ACQUISITION IS EXPECTED TO EXCEED ELEMENTIS' WEIGHTED AVERAGE COST OF CAPITAL IN FOURTH FULL YEAR OF OWNERSHIP.DEAL, EXISTING DEBT OF GROUP AND MONDO AND FUNDING OF ENLARGED GROUP GOING FORWARDS, ARE ALL EXPECTED TO BE FINANCED BY A RIGHTS ISSUE.CONFIDENT OF DELIVERING CONTINUED PROGRESS IN 2018, IN LINE WITH CO'S PREVIOUS EXPECTATIONS.ACQUISITION, EXISTING DEBT OF GROUP AND MONDO, OTHERS EXPECTED ALSO TO BE FINA
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