Brief: Cactus Announces Agreement To Acquire Flexsteel

Cactus

03/01/2023 11:34

Cactus Inc  WHD.N :
    * CACTUS ANNOUNCES AGREEMENT TO ACQUIRE FLEXSTEEL
    * CACTUS INC - TRANSACTION IS EXPECTED TO BE ACCRETIVE TO
FIRST
YEAR FINANCIAL METRICS
    * CACTUS INC - TRANSACTION IS EXPECTED TO BE ACCRETIVE TO
FIRST
YEAR FINANCIAL METRICS
    * CACTUS INC - PROPOSED DEAL FOR UPFRONT CONSIDERATION OF
APPROXIMATELY $621 MILLION
    * CACTUS INC - INTENDS TO FINANCE ACQUISITION OF FLEXSTEEL
THROUGH
A MIX OF CASH, DEBT AND/OR EQUITY
    * CACTUS INC - POTENTIAL FUTURE EARN-OUT PAYMENT OF UP TO
$75
MILLION TO BE PAID IN MID-2024 IF CERTAIN TARGETS MET BY
FLEXSTEEL
    * CACTUS INC - FLEXSTEEL'S CURRENT PRESIDENT AND CEO,
THIRUCHERAI
SATHYANARAYANAN, WILL CONTINUE TO LEAD BUSINESS

Source text for Eikon:  ID:nBw8K60L9a 
Further company coverage:  WHD.N