Tornado Infrastructure Equipment to be Acquired by The Toro Company
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Tornado Global Hydrovacs (TSE:TGH) announced that Tornado Infrastructure Equipment Ltd. will be acquired by The Toro Company for CAD $1.92 per share, valuing the company at approximately CAD $279.3 million. This acquisition, supported by major shareholders, offers a premium over recent trading prices and immediate liquidity to shareholders. The deal follows a strategic review aimed at maximizing shareholder value. Analysts rate TGH stock as a Buy with a C$2.80 price target. Tornado specializes in hydrovac trucks for excavation and infrastructure maintenance.
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