DOJ conditionally approves Eaton's $3.3B sale of hydraulics unit to Danfoss

  • The DOJ agreed to conditionally approved the $3.3B sale of its hydraulics unit to Danfoss with asset sales.
  • An earlier report said that the DOJ had sued to block the deal. The suit was instantly filed for a proposed settlement, commonly known as sue and settle.
  • The DOJ will require Danfoss and Eaton to divest assets from both Danfoss's and Eaton 's orbital motor and hydraulic steering unit manufacturing businesses in to proceed with the deal, according to a DOJ statement.
  • Under the terms of the proposed settlement, the parties must divest three Danfoss orbital motor and hydraulic steering unit facilities located in Hopkinsville, Kentucky; Parchim, Germany; and Wroclaw, Poland, and two orbital motor production lines and one hydraulic steering unit production line from Eaton facilities located in Shawnee, Oklahoma, and Eden Prairie, Minnesota, to Interpump Group (OTC:IPGLF).
  • An Eaton spokesperson said in an email to Seeking Alpha that the sale doesn't have to be completed prior to the closing of its transaction with Danfoss and that Eaton and Danfoss have already agreed to the proposed settlement.
  • In addition, today the European Commission approved Interpump as a "suitable" purchaser of the orbital motor and steering assets, according to the Eaton representative.
  • "We are excited to reach these important milestones and look forward to the closing the transaction," Eaton spokesperson Kelly Jasko said in the email.
  • In March, Eaton 's $3.3B hydraulics sale to Danfoss wins conditional EU OK.
  • Eaton originally announced the deal to sell the hydraulics business in January of last year.

    Over the current book year the total revenu from the company based in Dublin will be 19.19 billion USD (consensus estimates). This is slightly more than 2021's revenue of 17.86 billion USD.

    Historical revenues and results Eaton plus estimates 2021

    koersdata

    The analysts expect for 2021 a net profit of 2.46 billion USD. The majority of the analysts expects for this year a profit per share of 6.24 USD. The price/earnings-ratio is then 25.33.

    Per share the analysts expect a dividend of 3.01 USD per share. Thus the dividend yield equals 1.9 percent. The average dividend yield of the construction companies equals an attractive 1.88 percent.

    Based on the current number of outstanding shares Eaton 's market capitalization is 65.32 billion USD. 74

    Historical stock prices Eaton period 2007-2021

    fundamental data eaton

    On Friday, the stock closed at 158.05 USD.

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