Edition:
United Kingdom

Enersys Announces Agreement To Acquire The Alpha Technologies Group Of Companies


Monday, 29 Oct 2018 

Oct 29 (Reuters) - EnerSys ::ENERSYS ANNOUNCES AGREEMENT TO ACQUIRE THE ALPHA TECHNOLOGIES GROUP OF COMPANIES, CREATING THE ONLY COMPLETE POWER SOLUTION PROVIDER FOR BROADBAND, TELECOM AND ENERGY STORAGE SYSTEMS.TOTAL ACQUISITION CONSIDERATION IS $750 MILLION.CASH CONSIDERATION OF DEAL TO BE FUNDED USING CASH, EXISTING CREDIT FACILITIES AND NEW DEBT WHILE ENS SHARES WILL COME FROM TREASURY STOCK.ACQUISITION CONSIDERATION CONSISTS OF $650 MILLION IN CASH, $100 MILLION IN EITHER CASH OR CO'S SHARES.TRANSACTION IS PREDICTED TO ACCRETIVE TO ENERSYS' EARNINGS, EXCLUDING ANY ONE-TIME OR ACQUISITION RELATED COSTS.TRANSACTION IS PREDICTED TO GENERATE ANNUAL RUN-RATE SYNERGIES IN EXCESS OF $25 MILLION TO ENERSYS. 

Company Quote

53.86
-2.64 -4.67%
23 Aug 2019