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FI

Frank's International

$13.37

0.03 (0.22%)

08:06
10/07/16
10/07
08:06
10/07/16
08:06

Frank's International agrees to acquire Blackhawk Blackhawk Specialty Tools

Frank's International announced that it has entered into a definitive merger agreement to acquire Blackhawk Group Holdings, Inc., the ultimate parent company of Blackhawk Specialty Tools, a provider of well construction and well intervention services and products. Blackhawk is being purchased from Bain Capital Private Equity, a leading global private investment firm which acquired the business together with management in 2013. The merger consideration comprises a combination of approximately $150M of cash on hand and approximately 12.8M shares of Frank's common stock, on a cash-free, debt-free basis, subject to adjustment. Based on the Frank's closing price on Thursday, October 6, 2016 the transaction is valued at approximately $321M.

FI Frank's International
$13.37

0.03 (0.22%)

06/29/16
EVER
06/29/16
DOWNGRADE
Target $12
EVER
Hold
Frank's International downgraded to Hold from Buy at Evercore ISI
Evercore ISI analysts led by James West downgraded Frank's International to Hold and lowered its price target to $12 from $15. The analyst sees downside to estimates and views the current valuation as excessive and said the floater rig count is unlikely to bottom until late 2017/early 2018, and revenues are further exacerbated by pricing pressure internationally, with top line numbers unlikely to see an improvement over the next six quarters.
07/11/16
JEFF
07/11/16
DOWNGRADE
Target $12
JEFF
Underperform
Frank's International downgraded to Underperform from Hold at Jefferies
Jefferies analyst Brad Handler downgraded Frank's International to Underperform citing his cautious view regarding the pace of offshore recovery as well as his firm's lower deepwater outlook. The analyst cut his price target for the shares to $12 from $14.50.
07/28/16
SOCO
07/28/16
DOWNGRADE
Target $11
SOCO
Equalweight
Frank's International downgraded to Equalweight from Overweight at Capital One
Capital One analyst Joseph Gibney downgraded Frank's International to Equalweight following the company's Q2 results. The analyst cut his price target for the shares to $11 from $14.
08/25/16
UBSW
08/25/16
DOWNGRADE
Target $7.5
UBSW
Sell
Frank's International downgraded to Sell from Neutral at UBS
UBS analyst Angie Sedita downgraded Frnak's International to Sell and lowered its price target to $7.50 from $16. The analyst sees outsized earnings risk given Frank's significant offshore exposure and expects margins to remain under pressure as deepwater drilling declines and the mix shifts towards lower-margin shallow-water and onshore activity.

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