Metalico: Undervalued Dead Or Alive
Jun. 16, 2015, 8:45 AM
- Scrap metal recycler Metalico (NYSEMKT:MEA) +43.2% premarket agreeing to be acquired by Total Merchant Ltd. in a deal valued at ~$87M, including debt.
- The all-cash deal will include a payment to MEA stockholders of $0.60/share of MEA owned by them as of the date of closing, which is expected in Q3.
- Just last month, Hawkinvest wrote that MEA "could have significant upside due to a buyout offer or possible asset sale."
Metalico Inc processes ferrous and non-ferrous scrap metal. It operates in two distinct business segments: scrap metal recycling and lead metal product fabricating.
Sector: Basic Materials
Industry: Steel & Iron
Country: United States
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