World Kinect Corporation (WKC) said a subsidiary of the company has signed a definitive agreement with Universal Weather and Aviation to acquire their Trip Support Services division. The total purchase price is approximately $220 million, consisting of $160 million of cash payable at closing and $60 million payable over four years.
World Kinect expects the transaction to be approximately 7% accretive to adjusted earnings per share in the first year after closing, with further accretion expected over time as synergies are realized. The company expects to achieve approximately $15 million in annual net cost synergies by the end of the second year after closing.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.