logo
  

Stock Alert: Why Is Macquarie Infrastructure Gaining Over 10%?

Shares of Macquarie Infrastructure Corp. (MIC) are currently gaining over 10% after the company announced deal to sell it Atlantic Aviation business to KKR for $4.475 billion in cash and assumed debt and reorganization obligations.

MIC is currently trading at $38.70, up $3.70 or 10.57%, on the Nasdaq.

According to the company, the price indicates a multiple of Atlantic Aviation's 2019 EBITDA of 16.2 times.

Macquarie expects to receive $3.525 billion at closing following the reorganization of MIC into a limited liability company, Macquarie Infrastructure Holdings LLC.

For comments and feedback contact: editorial@rttnews.com

Business News

Looking to Invest in the Best Biotech Stocks? Subscribe to RTT Biotech Investor.
Editors Pick
Salt Lake City, Utah-based Huish Outdoors is recalling Oceanic Adult Dry Top Snorkels sold exclusively at Costco citing risk for drowning, U.S. Consumer Product Safety Commission said. The recall involves about 76,000 units of Oceanic Adult Dry Top Snorkels. The recall was initiated after Oceanic received 13 reports of the snorkels leaking. Boeing expects Europe's commercial aviation fleet to need 8,705 new airplanes through 2040 to cater to the growing leisure travel market in the region and fleet replacements with more fuel-efficient models, according to the Boeing's 2021 Commercial Market Outlook (CMO), an annual forecast of long-term demand for commercial airplanes and services. The U.S. Food and Drug Administration authorized marketing of a software developed by Paige.AI, a provider of AI-based digital diagnostics, which could help pathologists to identify prostate cancer. The software, called Paige Prostate, is the first and only artificial intelligence or AI-based pathology product to receive FDA approval for in vitro diagnostic or IVD use in detecting cancer...
Follow RTT