Covenant Logistics Group Says On August 18, Co Acquired 100% Of Equity Interests Of A Specialized Brokerage Company; Total Purchase Price Is Expected To Range From $8M-$20M; Depending On Acquired Co's Achievement Of Earnouts Running Through 2027
Portfolio Pulse from Happy Mohamed
Covenant Logistics Group has acquired 100% of the equity interests of a specialized brokerage company. The total purchase price is expected to range from $8M-$20M, depending on the acquired company's achievement of earnouts running through 2027.
August 21, 2023 | 1:25 pm
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Covenant Logistics Group's acquisition of a specialized brokerage company could potentially enhance its service offerings and revenue streams. The impact on the stock price will depend on the performance of the acquired company.
Acquisitions often provide companies with opportunities to expand their services and increase their revenues. In this case, Covenant Logistics Group's acquisition of a specialized brokerage company could potentially enhance its service offerings and revenue streams. However, the impact on the stock price will largely depend on the performance of the acquired company, particularly its achievement of earnouts running through 2027.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100