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HI

Hillenbrand

$28.34

-0.13 (-0.46%)

, MCRN

Milacron

$16.24

-0.03 (-0.18%)

08:12
10/11/19
10/11
08:12
10/11/19
08:12

Hillenbrand completes financing to fund Milacron acquisition

Hillenbrand (HI) announced that it has completed the permanent financing arrangements intended to fund a portion of the purchase price for its acquisition of Milacron (MCRN) with an amendment to its Third Amended and Restated Credit Agreement. The amendment increases Hillenbrand's borrowing capacity for funding the acquisition by $225M. In completing these arrangements, Hillenbrand has eliminated its previously announced bridge financing commitments related to its acquisition financing. Hillenbrand intends to use borrowings under the credit agreement, available cash and the net proceeds from its previously announced senior notes offering to finance the cash consideration as well as to repay certain indebtedness of Milacron and the related fees and expenses associated with the transaction. The acquisition is expected to close by the end of 2019.

HI

Hillenbrand

$28.34

-0.13 (-0.46%)

MCRN

Milacron

$16.24

-0.03 (-0.18%)

HI Hillenbrand
$28.34

-0.13 (-0.46%)

07/15/19
DADA
07/15/19
UPGRADE
DADA
Buy
Hillenbrand upgraded to Buy from Neutral at DA Davidson
DA Davidson analyst Matt Summerville is positive on Hillenbrand's $2B acquisition of Milacron announced last week, upgrading the stock to Buy from Neutral with an unchanged price target of $43. The analyst calls the deal "transformational" toward becoming a more diversified global enterprise and sees a "significant cash accretion potential" from the transaction. Summerville further states that the 13% sell-off on Friday after the deal was announced is overdone and creates an attractive entry point for Hillenbrand stock.
07/15/19
07/15/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Deere (DE) upgraded to Buy from Neutral at BofA/Merrill. 2. Brinker (EAT) upgraded to Overweight from Neutral at JPMorgan with analyst John Ivankoe saying the stock has become more attractive after the 9.5% pullback following the company's fiscal Q3 results. 3. Hilton (HLT) upgraded to Neutral from Underperform at Longbow with analyst Alton Stump citing valuation. 4. Crocs (CROX) upgraded to Overweight from Neutral at Piper Jaffray with analyst Erinn Murphy saying channel checks suggest the company's outlets have been seeing "solid" traffic during the summer season while pricing appears to be better versus the April/May season. 5. Hillenbrand (HI) upgraded to Buy from Neutral at DA Davidson with analyst Matt Summerville saying he is positive on Hillenbrand's $2B acquisition of Milacron announced last week, calling the deal "transformational" toward becoming a more diversified global enterprise and sees a "significant cash accretion potential" from the transaction. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/31/19
BARD
07/31/19
DOWNGRADE
Target $17
BARD
Neutral
Milacron downgraded to Neutral at Baird
As reported previously, Baird analyst Michael Halloran downgraded Milacron (MCRN) to Neutral from Outperform. The analyst said Q2 results were solid relative to sentiment with EBITDA outperforming his expectations on lower than expected revenue and margin upside. The company is due to be acquired by Hillenbrand (HI) and Halloran believes the implied price of $17.39 with cash and stock captures the stock's value.
10/07/19
KEYB
10/07/19
DOWNGRADE
KEYB
Sector Weight
Milacron downgraded to Sector Weight from Overweight at KeyBanc
KeyBanc analyst Jeffrey Hammond downgraded Milacron to Sector Weight from Overweight saying he thinks the stock action will be heavily weighted on expectations that its merger with Hillenbrand (HI) will close on time in Q1 of 2020. At current prices, Milacron trades tight to the implied deal price of $16.50, which assumes $11.80 in cash and 0.1612 shares of Hillenbrand for every share of Milacron, Hammond tells investors in a research note.
MCRN Milacron
$16.24

-0.03 (-0.18%)

07/31/19
BARD
07/31/19
DOWNGRADE
BARD
Neutral
Milacron downgraded to Neutral from Outperform at Baird
10/07/19
KEYB
10/07/19
DOWNGRADE
KEYB
Sector Weight
Milacron downgraded to Sector Weight from Overweight at KeyBanc

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Xilinx

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3.4 (3.66%)

, INTC

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$52.06

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20:45
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IGMS

IGM Biosciences

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LMAT

LeMaitre

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WE

We Company

$0.00

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, SFTBF

SoftBank

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SoftBank seeking control of WeWork through financing package, WSJ says »

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KOD

Kodiak Sciences

$18.24

1.34 (7.93%)

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ADVM

Adverum Biotechnologies

$5.29

0.11 (2.12%)

18:29
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18:29
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ADVM

Adverum Biotechnologies

$5.29

0.11 (2.12%)

18:23
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COP

ConocoPhillips

$56.41

0.55 (0.98%)

18:03
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ConocoPhillips announces $1.39B agreement to sell interests in Australia-West »

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T

AT&T

$37.58

0.17 (0.45%)

, CMCSA

Comcast

$45.53

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On The Fly
Box Office Battle: 'Joker' stays at number 1 with another $55M »

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T

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CMCSA

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DIS

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VIAB

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PCG

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TTGT

TechTarget

$22.64

0.14 (0.62%)

, SKHCY

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$0.00

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TTGT

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HPE

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HLF

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CVLT

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FB

Facebook

$184.20

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KBH

KB Home

$33.92

-0.15 (-0.44%)

16:43
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BX

Blackstone

$47.10

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16:34
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GOOG

Alphabet

$1,213.86

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, GOOGL

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SPX

S&P 500

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, SPY

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$296.34

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AGN

Allergan

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LYFT

Lyft

$39.49

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, UBER

Uber

$30.09

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LYFT

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UBER

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$30.09

1.19 (4.12%)

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GM

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MRK

Merck

$84.31

0.6 (0.72%)

, JNJ

Johnson & Johnson

$131.35

2.32 (1.80%)

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Congo to start using Johnson & Johnson Ebola vaccine next month, Reuters says »

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MRK

Merck

$84.31

0.6 (0.72%)

JNJ

Johnson & Johnson

$131.35

2.32 (1.80%)

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HMTV

Hemisphere Media

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0.05 (0.43%)

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PFE

Pfizer

$36.11

0.31 (0.87%)

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