Signify n.v. (enxtam:light) entered into a definitive agreement to acquire cooper lighting, llc from eaton corporation plc (nyse:etn) for $1.4 billion.
Signify n.v. (enxtam:light) entered into a definitive agreement to acquire cooper lighting, llc from eaton corporation plc (nyse:etn) for $1.4 billion on october 15, 2019. the consideration is on a cash and debt-free basis and will be paid in cash. the acquisition will be fully financed with debt, with committed bridge financing arranged. signify n.v. intends to replace the bridge loan and the existing term loan debt obtained at ipo with a new financing structure before or shortly after the closing of this transaction. upon closing, signify n.v. and cooper lighting, llc will maintain separate front offices: sales forces, agent networks, product and brand portfolios, marketing and product development teams. cooper lighting, llc generated $1.7 billion of sales and reported ebitda of $187 million in 2018. closing of the transaction is subject to regulatory approvals and other customary conditions. the anti-trust approval was granted following the early expiration of the waiting period under the hart-scott-rodino (hsr) antitrust improvements act. the closing is expected to take place in the first quarter of 2020. the acquisition is expected to result in mid-teens earning per share (eps) accretion for signify n.v. in year one. goldman, sachs & co. llc. acted as financial advisor to eaton corporation plc. lazard ltd. acted as financial advisor to signify n.v. stephen glover of gibson, dunn & crutcher llp acted as legal advisor to eaton corporation plc.
ETN Ratings Summary
ETN Quant Ranking
You've reached your free article limit.
Want To Read More Articles?
See what it all means for your stocks with premium tools
Stockprices is a weekly video covering what moved markets
this week, featuring a panel of Stockprices editors. It is published by the
close of trading on Fridays. Hosted by Nathaniel E. Baker, contributing editor,
and featuring: Aaron Task, VP Contributor Content and co-host Stockprices's Alpha
Trader podcast; Brad Olesen, VP News; Steve Alpher, Managing Editor News, co-host
Alpha Trader.
Unsubscribe From All
You successfully activated
“Only Essentials”
Confirm Upgrade
Your subscription will be moved to the annual plan. Service will automatically renew unless cancelled. No Refunds. Click upgrade to confirm.
Stockprices uses Plaid to connect you account
Connect effortlessly
Plaid lets you securely connect your financial accounts in seconds
Your data belongs to you
Plaid doesn't sell personal info, and will only use it with your permission