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CFT - CFT SpA News Story

€4.57 0.0  0.0%

Last Trade - 05/03/21

Sector
Industrials
Size
Small Cap
Market Cap £71.4m
Enterprise Value £137.3m
Revenue £201.4m
Position in Universe 389th / 730

BRIEF-ATS Launches Voluntary Tender Offer For Global Food & Beverage Equipment Supplier CFT S.p.A.

Mon 7th December, 2020 11:08am
Dec 7 (Reuters) - ATS Automation Tooling Systems Inc
 ATA.TO :
    * ATS LAUNCHES VOLUNTARY TENDER OFFER FOR GLOBAL FOOD &
BEVERAGE
EQUIPMENT SUPPLIER CFT S.P.A.
    * ATS AUTOMATION TOOLING SYSTEMS - TENDER OFFER OF EUR 4.60
PER
SHARE REPRESENTS TOTAL EQUITY VALUE OF EUR 88 MILLION, TOTAL
ENTERPRISE VALUE OF EUR 166 MILLION
    * ATS AUTOMATION TOOLING SYSTEMS INC - EXPECTS TO ACHIEVE
APPROXIMATELY EUR 7 MILLION IN ANNUAL COST SYNERGIES WITHIN
THREE YEARS OF CLOSING
    * ATS AUTOMATION TOOLING SYSTEMS - ATS ALSO EXPECTS REVENUE
SYNERGIES TO GENERATE ABOUT EUR 7 MILLION OF EBITDA WITHIN 3 YRS
FROM JOINT PRODUCT DEVELOPMENT
    * ATS AUTOMATION TOOLING SYSTEMS - TRANSACTION IS EXPECTED
TO BE
ACCRETIVE TO ATS' EARNINGS AND CASH FLOW PER SHARE IN FIRST YEAR
FOLLOWING ACQUISITION
    * ATS AUTOMATION TOOLING SYSTEMS - ATS IS TARGETING A
DOUBLE-DIGIT
RETURN ON INVESTED CAPITAL (ROIC) BY THIRD YEAR FOLLOWING
COMPLETION OF ACQUISITION
    * ATS AUTOMATION TOOLING SYSTEMS -  TENDER OFFER LAUNCHED BY
ATS
AUTOMATION HOLDINGS ITALY S.R.L. TO BUY 100% OF CFT'S
OUTSTANDING SHARES,VOTING RIGHTS

Source text for Eikon:  ID:nCNWZ8Z3Wa 
Further company coverage:  ATA.TO 

 ((Reuters.Briefs@thomsonreuters.com;))
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