logo
Share SHARE
FONT-SIZE Plus   Neg

Algeco Scotsman To Buy Target Logistics Management

Algeco Scotsman said Wednesday that it has signed an agreement to acquire Target Logistics Management LLC, a provider of full-service remote workforce accommodation solutions in the United States.

The total consideration for the deal is up to about $625 million based on Target's financial projections. Of the total consideration, $275 million is payable at closing and about $350 million is deferred and linked to Target's expected strong performance over multiple years. The total closing consideration of $275 million is comprised of about $86 million in cash, $86 million of Algeco stock and $103 million of assumed indebtedness and working capital.

The cash consideration will be funded by existing facilities available to Algeco and the deferred consideration is payable principally in Algeco stock.


The deal is expected to be completed by the end of February 2013.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

22 Articles
Editors Pick
U.S. food maker Kraft Heinz Co., which had offered $143 billion in cash and stock to buy Anglo-Dutch consumer goods company Unilever, Sunday said it has amicably agreed to withdraw its proposal for a combination of the two companies. Dairy giant Saputo Inc. is voluntarily recalling certain Gouda cheese products in the U.S. due to potential listeria contamination. Saputo said one of its suppliers, Deutsch Kase Haus, LLC of Middlebury, Indiana, notified the company that some specialty Gouda cheese products that it supplied to Saputo's Green Bay, Wisconsin facility may have been contaminated with Listeria monocytogenes. Amazon is exploring the possibility of using parachutes to drop drone-delivered packages. The e-commerce giant has been granted a patent titled, "Maneuvering a package following in-flight release from an unmanned aerial vehicle".
comments powered by Disqus
Follow RTT