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Tornado Global Hydrovacs ( (TSE:TGH) ) has issued an update.
Tornado Infrastructure Equipment Ltd. has announced the filing of a management information circular related to a proposed plan of arrangement with The Toro Company. This plan involves the acquisition of all outstanding Class ‘A’ common shares by an affiliate of Toro for $1.92 per share, representing a significant premium over recent trading prices. The board of directors recommends that securityholders vote in favor of the arrangement, which promises certainty of value and liquidity for investors. The arrangement is seen as beneficial due to the all-cash consideration and the strategic review process that led to this decision, offering a favorable transaction multiple and mitigating risks associated with the company’s independent operations.
The most recent analyst rating on (TSE:TGH) stock is a Buy with a C$2.80 price target. To see the full list of analyst forecasts on Tornado Global Hydrovacs stock, see the TSE:TGH Stock Forecast page.
More about Tornado Global Hydrovacs
Tornado Infrastructure Equipment Ltd. operates in the infrastructure equipment industry, focusing on providing hydrovac trucks and related services. The company is engaged in offering specialized equipment for excavation and infrastructure maintenance, catering primarily to the construction and utility sectors.
Average Trading Volume: 137,012
Technical Sentiment Signal: Buy
Current Market Cap: C$263M
For detailed information about TGH stock, go to TipRanks’ Stock Analysis page.