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Tornado Global Hydrovacs ( (TSE:TGH) ) has issued an announcement.
Tornado Infrastructure Equipment Ltd. announced that its securityholders have approved a plan of arrangement with The Toro Company, which involves the acquisition of all issued and outstanding shares by Tornado Acquisition Company ULC, an affiliate of Toro, for CAD $1.92 per share. This approval marks a significant step in the acquisition process, pending customary closing conditions, and is expected to enhance Tornado’s market positioning by aligning with Toro’s strategic objectives.
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. is a leader in the vacuum truck industry, specializing in the design and manufacture of hydrovac trucks. The company also offers complementary vacuum and industrial equipment solutions through its subsidiary CustomVac, and operates a heavy-duty truck maintenance facility in Alberta. Tornado serves excavation service providers across infrastructure, environmental, industrial construction, and oil and gas markets.
Average Trading Volume: 133,378
Technical Sentiment Signal: Buy
Current Market Cap: C$263M
For a thorough assessment of TGH stock, go to TipRanks’ Stock Analysis page.