HALISTER: Schneider to Buy Asco Power for $1.25B in Cash

Schneider to Buy Asco Power for $1.25B in Cash

(Bloomberg) -- Price equals about 11.7x adj. Ebitda for 2016, Schneider says.
  • Purchase will be accretive to co.’s adj EBITA margin and will provide “significant revenues and costs synergies” expected to generate about $40M/yr in adj. EBITA
  • Seller is Vertiv, formerly Emerson Network Power
  • Link to statement
  • NOTE: Schneider Upgrades Full-Year Organic Revenue Growth Target
To contact the reporter on this story: Phil Serafino in Paris at pserafino@bloomberg.net

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
SU FP (Schneider Electric SE)
EMR US (Emerson Electric Co)

To de-activate this alert, click here
To modify this alert, click here

UUID: 7947283