Commodities & Metals
After Huge IPO, Titan Goes Acquiring (TITN)
Published:
Last Updated:
Titan Machinery Inc. (NASDAQ:TITN) has been one of the best IPO’s since the end of 2007, and its ties to agriculture machinery are to thank. Recently, shares saw some pressure after it disclosed a secondary offering around the end of the lock-up period, but now the company has another announcement entirely.
The company has announced today that an agreement to acquire Mid-Land Equipment Company, L.C. has been signed. Mid-Land owns six dealerships in Iowa and Nebraska and earned $48.3 million in revenues in fiscal Dec-2007. The Fargo-based full-service agricultural and construction equipment store operator will own 48 stores after the completion of the transaction, which is expected to close May 30, 2008 pending customary closing conditions
Shares of Titan are up 2% to $20.57 in late morning trading. The post-IPO trading range is $11.50 to $24.50.
You can also sign up for our open email distribution list to see about other secondary offerings, IPO’s, break-ups, spin-offs, and more.
Rachel Lopez
May 12, 2008
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
