ASX Stocks to Watch – Toll Holdings (TOL)
Toll Holdings (TOL) is a leading provider of integrated logistics services, having a presence in over 50 countries and generates over $6.5 billion of revenue per annum.
In Australian stock news TOL has announced that it will acquire UK-based WT Sea Air Group (WT), and Genesis Forwarding Group (Genesis), for a combined $150 million.
The deals are expected to generate revenues worth a combined $250 million, and are both expected to be EPS accretive in the first year.
Separately, TOL has finalised the sale of its 50% interest in the Pacorini Toll JV. The sale will see TOL recognise a small profit in its FY10 accounts.
Australian stock price for TOL has declined since mid-January this year and more recently, has been in the range of approximately $5.50 and $6.00 since the beginning of June.
TOL last closed at $5.94 a share.
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