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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Bombardier Inc.    BBD.B   CA0977512007

BOMBARDIER INC.

(BBD.B)
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Bombardier : aerostructures sale comes into question, dragging shares to new low

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09/22/2020 | 03:31pm EDT

MONTREALBombardier Inc. shares fell to a new low Tuesday after Spirit AeroSystems said some closing conditions on its planned acquisition of Bombardier's aerostructures business remain unmet, injecting a degree of uncertainty into the deal.

The US$500-million sale of facilities in Belfast and Morocco forms a key part of Bombardier's shift from a commercial plane-and-train maker to a pure-play manufacturer of private jets.

The deal is also critical to buoying the Montreal-based company's balance sheet, which is currently weighed down by more than US$9 billion in debt.

Spirit AeroSystems says the agreement will automatically terminate if conditions are not satisfied by Oct. 31.

The Kansas-based company says the conditions include an absence of legal barriers, receipt of third-party consents and no major adverse changes to the business, which includes fuselage and wing factories.

Bombardier shares fell by one cent or three per cent to 38 cents in mid-afternoon trading on the Toronto Stock Exchange, a new 25-year-low for the Quebec mainstay.

Analyst Walter Spracklin of RBC Dominion Securities says he believes Bombardier has time to fulfil the closing conditions, but that the deal is less likely to close than previously expected.

The agreement was initially anticipated to wrap up in May of this year.

This report by The Canadian Press was first published Sept. 22, 2020.

Companies in this story: (TSX:BBD.B)

© 2020 The Canadian Press. All rights reserved., source Canadian Press DataFile


Stocks mentioned in the article
ChangeLast1st jan.
BOMBARDIER INC. 3.13% 0.33 Delayed Quote.-82.90%
SPIRIT AEROSYSTEMS HOLDINGS, INC. -7.32% 18.98 Delayed Quote.-73.96%
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Financials (USD)
Sales 2020 13 488 M - -
Net income 2020 -908 M - -
Net Debt 2020 7 539 M - -
P/E ratio 2020 -0,77x
Yield 2020 -
Capitalization 622 M 622 M -
EV / Sales 2020 0,61x
EV / Sales 2021 0,52x
Nbr of Employees 53 900
Free-Float 88,7%
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Technical analysis trends BOMBARDIER INC.
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 16
Average target price 0,42 $
Last Close Price 0,25 $
Spread / Highest target 201%
Spread / Average Target 66,6%
Spread / Lowest Target -15,5%
EPS Revisions
Managers
NameTitle
…ric Martel President, Chief Executive Officer & Director
Pierre Beaudoin Chairman
Paul Sislian Executive Vice President-Operations
John Di Bert Chief Financial Officer & Senior Vice President
FranÁois Caza Chief Technology Officer
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