Nov. 28, 2012, 8:36 AMKirby Corp. (KEX) agrees to buy tank barges and tugboats operator Penn Maritime in a deal valued at ~$295M consisting of cash, KEX common stock and the retirement of Penn's debt, as it looks to expand its footprint in the asphalt transportation market. KEX expects Penn to add $0.12-$0.18 to EPS in 2013. | Comment!
Sep. 4, 2012, 4:57 PMKirby (KEX) buys the assets of Allied Transportation and two affiliated companies for $116M, including $10M that will be paid contingent on developments with the sugar provisions in the U.S. Farm Bill. Allied's fleet consists of 10 coastal tank barges with a total liquid capacity of 680K barrels, three offshore dry-bulk barges with a total capacity of 48K tons, and seven tugboats. | Comment!
KEX vs. ETF Alternatives
Kirby Corp is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii.
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