The move to institutional shares accelerates: Institutional shares accounted for approximately 330 percent of the total mutual fund net flows for the trailing 12 months
ending March 31, 2019.
Flows Into Passively and Actively Managed Target-Date Funds, Trailing 12 Months
Through November 30, 2018
The purchase price of approximately $2.1 billion represents a multiple of 6.7x adjusted EBITDA for the trailing 12 months
ended August 31, 2018; and a multiple of 5.4x adjusted EBITDA including cost synergies and the net present value of tax attributes estimated at $169 million.
Over the trailing 12 months
and excluding the impact of diesel price movements and newly acquired operations, aggregates unit cost of sales have remained essentially flat.
Same-store incremental aggregates gross profits equaled 74 percent of incremental freight-adjusted revenues for the quarter--and 72 percent for the trailing 12 months
. Although weather impacts in the second quarter and first half may result in full-year volumes below plan, pricing and margin improvements lead the company to reconfirm its full-year EBITDA guidance," the company said.
The ranking is based on performance for the period ended 31 December 2010, trailing 12 months
for normal star rankings and trailing 36 months for long-term star rankings, the agency said.
Our cash flow from operations of $6.6 billion for the trailing 12 months
again underscored the strength of our business model.
The transaction also includes warrants to purchase 850,000 shares of HeartWare common stock at an exercise price of USD 83.73 per share exercisable upon attainment of USD 75m in net sales (trailing 12 months
) of Valtech products, and an earn-out payment of USD 375m (payable in cash or stock, at the discretion of HeartWare), upon attainment of USD 450m of net sales (trailing 12 months
) of Valtech products.