AMA Group races ahead

An acquisition has started AMA Group's engines.

Shares in automotive products and services company AMA Group (AMA) recorded its best one-day jump in over three months this morning after it announced it was buying Custom Alloy.

AMA will pay $4.9 million plus inventory capped at $1 million for the private bullbar maker, which is around 3.4 times Custom Alloy’s annual earnings before interest and tax (EBIT).

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