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DOV WI - Dover News Story

$75.78 1.5  2.0%

Last Trade - 08/05/18

Sector
Industrials
Size
Large Cap
Market Cap £15.46bn
Enterprise Value £17.25bn
Revenue £4.89bn
Position in Universe th / 6846

BRIEF-RBC Bearings to buys Dover's sargent aerospace & defense business for $500 mln

Thu 26th March, 2015 8:05pm
March 26 (Reuters) - RBC Bearings Inc  ROLL.O : 
 * To acquire dover's sargent aerospace & defense business 
 * Deal for $500 million 
 * Says deal accretive to earnings and cash flow in fiscal 2016 
 * Estimates earnings accretion between $0.25 to $0.35 per diluted share for 
   first twelve months of operations as combined company 
 * Deal for $500 million to be financed through a combination of cash on hand 
   and senior debt 
 * Says shareholder approvals are not required to complete the transaction 
 * Says deal to be financed through a combination of cash on hand and senior 
   debt 
 * Sees annual run-rate synergies of about $7.5 million achieved over five year 
   period and about $78 million tax benefits based on npv basis 
 
 * Source text for Eikon  ID:nBw2Cdbpca  
 
 * Further company coverage  ROLL.O   
 
 ((Bengaluru Newsroom; +1 646 223 8780))
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