Boyd Group (BYD) had a busy Thursday, announcing a $780M bought deal U.S. IPO and a $525M debt issuance the company is using to fund its $1.3B deal for JHCC - adding 258 U.S. locations…

… at a ~9x EBITDA multiple. Management expects to unlock $35-45M of run-rate synergies post-close…

… which should drive double-digit accretion via margin expansion.

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