Electronics equipment maker Amphenol to buy Carlisle's unit for about $2 bln (updated)

Carlisle Companies

30/01/2024 13:47

(Adds background, details in paragraph 2-5)
       Jan 30 (Reuters) - Electronics equipment maker Amphenol
 APH.N  said on Tuesday it plans to buy a unit of Carlisle
Companies  CSL.N  for about $2 billion in cash.
    Carlisle Interconnect Technologies (CIT), the unit that
supplies cables and connectors to defense and industrial end
markets, is expected to broaden Amphenol's existing portfolio.
    The deal comes at a time when Amphenol is seeing growing
demand for its products as countries across the world expand
their investments in defense technology amid the conflict in the
Middle East and the Russia-Ukraine war.
    The acquisition of CIT is expected to be accretive to
Amphenol's earnings per share in the first year post-closing of
the deal, the company said. 
    The deal is expected to close by the end of the second
quarter of 2024 and will be financed through a combination of
Amphenol's cash on hand and its existing credit and commercial
paper facilities.
 

 (Reporting by Harshita Mary Varghese; Editing by Shounak
Dasgupta and Shweta Agarwal)
 ((HarshitaMary.Varghese@thomsonreuters.com))