SPY441.95+10.71 2.48%
DIA347.11+5.56 1.63%
IXIC13,770.57+417.79 3.13%

BRIEF-Simpson Manufacturing Submits Binding Offer To Acquire Etanco Group For 725 Million Euros

reuters.com · 12/29/2021 16:21
BRIEF-Simpson Manufacturing Submits Binding Offer To Acquire Etanco Group For 725 Million Euros

- Simpson Manufacturing Co Inc SSD:

  • SIMPSON MANUFACTURING CO., INC. ANNOUNCES BINDING OFFER TO ACQUIRE ETANCO GROUP

  • SIMPSON MANUFACTURING CO INC - SUBMITS BINDING OFFER TO ACQUIRE LEADING EUROPEAN BUILDING PRODUCT SOLUTIONS COMPANY, FOR PURCHASE PRICE OF EUR 725 MILLION

  • SIMPSON MANUFACTURING CO INC - ACQUISITION ANTICIPATED TO BE ACCRETIVE TO COMPANY'S EARNINGS WITHIN FIRST FULL FISCAL YEAR AFTER CLOSING.

  • SIMPSON MANUFACTURING - EXPECTS TO REALIZE OPERATING INCOME SYNERGIES OF ABOUT $30 MILLION, ON AN ANNUAL RUN RATE BASIS, WITHIN 36 MONTHS FOLLOWING DEAL

  • SIMPSON - DEAL EXPECTED TO BE FUNDED BY $100 MILLION OF EXISTING CASH WITH REMAINDER FROM BORROWINGS UNDER CO'S EXISTING REVOLVING CREDIT FACILITY

  • SIMPSON MANUFACTURING - DEAL EXPECTED TO BE FUNDED VIA $450 MILLION UNSECURED TERM LOAN

Source text for Eikon: ID:nPn6CfXKfa

Further company coverage: SSD


((Reuters.Briefs@thomsonreuters.com;))