BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Fortress snags Florida East Coast in $2.2 billion buyout]]>http://www.bloggingstocks.com/2007/05/08/fortress-snags-florida-east-coast-in-2-2-billion-buyout/http://www.bloggingstocks.com/2007/05/08/fortress-snags-florida-east-coast-in-2-2-billion-buyout/http://www.bloggingstocks.com/2007/05/08/fortress-snags-florida-east-coast-in-2-2-billion-buyout/#commentsFiled under:

A few months ago, Fortress Investment Group (NYSE: FIG) was the first alternative investment fund to go public in the US (the firm has $35.1 billion in assets under management). Well, it's starting to flex its muscles.

Today, the firm said it will shell out $62.50 per share or $2.2 billion for Florida East Coast Industries (NYSE: FLA). Keep in mind that there is a special $21.50 special dividend due - so the ultimate price tag is $84 per share. If you throw in the debt, the transaction comes to $3.5 billion.

FLA has two major divisions. There's Flagler Development that focuses on commercial real estate and has 8.6 million square feet of Class-A office and industrial space. Next, there is the Florida East Coast Railway, which is a regional player in hauling freight (that covers about 351 miles or so).

In 2006, revenues increased from $362.3 million to $458.2 million.

I think it's a good bet that Fortress will split up the company so as to realize more value. For example, Fortress recently purchased RailAmerica.

On the news of the FLA deal, the stock traded up 11.97% to $83 per share.

Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.

Fortress snags Florida East Coast in $2.2 billion buyout originally appeared on BloggingStocks on Tue, 08 May 2007 15:28:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>figflaFlorida East Coast IndustriesFloridaEastCoastIndustriesFortress Investment GroupFortressInvestmentGroupTue, 08 May 2007 15:28:00 EST<![CDATA[Analyst initiations 5-01-07: CACH, CHS, JPM and SIRF]]>http://www.bloggingstocks.com/2007/05/01/analyst-initiations-5-01-07-cach-chs-jpm-and-sirf/http://www.bloggingstocks.com/2007/05/01/analyst-initiations-5-01-07-cach-chs-jpm-and-sirf/http://www.bloggingstocks.com/2007/05/01/analyst-initiations-5-01-07-cach-chs-jpm-and-sirf/#commentsFiled under: , ,

MOST NOTEWORTHY: Chico's FAS (CHS), Cache, Inc (CACH), JPMorgan Chase & Co (JPM) and National City Corp (NCC) were today's noteworthy initiations:
  • Thomas Weisel started Chico's FAS (NYSE: CHS) with a Market Weight rating and $26 target citing near-term mix pressure, lower margin potential and lower square footage growth.
  • Thomas Weisel also initiated shares of Cache, Inc (NASDAQ: CACH) with an Overweight rating and $21 target, citing a significant sales opportunity driven by new categories and demographics.
  • AG Edwards believes the risk/reward for JP Morgan & Chase Co (NYSE: JPM) is balanced, assuming coverage with a Hold rating.
OTHER INITIATIONS:
  • Merriman initiated shares of Aware, Inc (NASDAQ: AWRE) with a Buy rating.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst initiations 5-01-07: CACH, CHS, JPM and SIRF originally appeared on BloggingStocks on Tue, 01 May 2007 11:19:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>analystawareawrecachcachechicochsflaflorida eastFloridaEastinitiationjp morganjpmJpMorgannational cityNationalCitynccratingsirfSiRF techSirfTechtheflyonthewall.comxfmlxinhuaTue, 01 May 2007 11:19:00 EST