The Timken to Acquire GGB Bearing Technology For $305 Million
The Timken Company (NYSE:TKR) shares closed more than 2% higher on Wednesday following the company’s announcement to acquire GGB Bearing Technology, a division of Enpro Industries, for $305 million.
GGB Bearing Technology, which is a global supplier of premium engineered bearings and advanced tribological coatings used in varied industrial and automotive applications, is expected to generate approximately $200 million in 2022 revenue, with accretive EBITDA margins and immediate adjusted EPS contribution.
The deal is expected to close in Q4 and will be financed by a combination of cash on hand and revolver capacity.
| Symbol | Price | %chg |
|---|---|---|
| BOLT.JK | 1155 | 0 |
| 6586.T | 4328 | 0 |
| 9962.T | 1979.5 | 0 |
| 6141.T | 2746.5 | 0 |
Leadership Void and Macro Headwinds Prompt Timken Downgrade at DA Davidson
DA Davidson downgraded Timken (NYSE:TKR) from Buy to Neutral, citing a combination of leadership instability and mounting macroeconomic pressures. The move follows the unexpected resignation of the company’s CEO in March, leaving a strategic gap at a time when Timken faces rising uncertainty across its key end markets.
The firm noted that some of the growth initiatives that previously supported a bullish view may now be delayed. Timken’s cautious tone at a recent investor conference also stood out, reinforcing concerns about a softer outlook. Tariff challenges, broader economic slowdown risks, and the absence of permanent executive leadership are now seen as meaningful headwinds, prompting a more neutral stance on the stock.
