Watsco Finalizes Acquisition of Jackson Supply Company
WSO is trading near its 52-week low of $323.05 (10% above the low).
Summary
Watsco has completed its acquisition of Jackson Supply Company, formalizing the expansion of its distribution network. This follows the company's announcement of its intent to acquire on April 28th, which included an 8-K detailing the issuance of approximately $198 million in common stock as consideration. The completion executes on a previously announced strategic move to grow its market presence.
At the time of this announcement, WSO was trading at $355.50 on NYSE in the Trade & Services sector, with a market capitalization of approximately $12.6B. The 52-week trading range was $323.05 to $494.94. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.