Why Madison Air Solutions Stock Was Getting Mashed This Week
It announced a $5 billion-plus deal to acquire a peer.
Overview
Madison Air Solutions (NYSE: MAIR), a recent arrival to the stock exchange, wasn't having one of the best weeks in its existence as a publicly traded company.
After the cooling solutions specialist announced a splashy acquisition, investors actively and eagerly traded out of its equity. As of Friday morning before market open, Madison's shares were down by 16% week to date, according to data compiled by S&P Global Market Intelligence.
Details
That slide started early on Monday, when Madison Air announced it had signed a definitive agreement to become the new owner of a Germany-based peer, ebm-papst. The enterprise value of the deal is $5.4 billion, Madison said, or $5 billion when accounting for anticipated future tax savings.
Source
Originally published at www.fool.com.
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