Brief: Cavco Industries Announces Planned Acquisition Of Manufactured And Modular Home Builder The Commodore Corp
26/07/2021 12:49
July 26 (Reuters) - Cavco Industries Inc CVCO.O :
* CAVCO INDUSTRIES ANNOUNCES PLANNED ACQUISITION OF
MANUFACTURED
AND MODULAR HOME BUILDER THE COMMODORE CORPORATION
* CAVCO INDUSTRIES INC - SIGNED A BINDING OFFER TO ACQUIRE
BUSINESS AND CERTAIN ASSETS AND LIABILITIES OF COMMODORE
CORPORATION
* CAVCO INDUSTRIES INC - PURCHASE PRICE TOTALS $153 MILLION
* CAVCO INDUSTRIES INC - ESTIMATED CASH OUTLAY IS $140
MILLION
AFTER ADJUSTMENTS AND INCLUDING TRANSACTION FEES
* CAVCO INDUSTRIES INC - EXPECTS TO FUND ACQUISITION
ENTIRELY WITH
CASH ON HAND
* CAVCO INDUSTRIES INC - EXPECTS PROPOSED ACQUISITION TO BE
SIGNIFICANTLY ACCRETIVE TO EARNINGS AND CASH FLOW FROM
OPERATIONS IN FISCAL YEAR 2022
Source text for Eikon: ID:nGNXb29Q55
Further company coverage: CVCO.O
((Reuters.Briefs@thomsonreuters.com;))