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Article: Deal Flow Alert: Cascade Looks For the Right Price.(Brief Article)
- Article from:
- Mergers & Acquisitions Report
- Article date:
- May 22, 2000
- Author:
CopyrightCOPYRIGHT 2000 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A struggling small cap specialty manufacturer among struggling peers, Cascade Corp. has said it will look to take itself private or sell itself within the next three to six months. At least one analyst thinks the ignored company could get picked up at a handsome premium.
The analyst, who wished to remain anonymous, said $120 million market cap, Portland, Ore.-based Cascade could snag a takeout in the mid-teens per share, or around $170 million.
Accordingly, the Street pushed Cascade's stock up 5.7% on the announcement to $10.56. By press time it had climbed to $11.81.
The mid-teens figure represents a multiple of five to six times EBITDA, a ...