Brief: Hillenbrand To Acquire The Schenck Process Food And Performance Materials Business
24/05/2023 12:35
May 24 (Reuters) - Hillenbrand Inc HI.N :
* HILLENBRAND TO ACQUIRE THE SCHENCK PROCESS FOOD AND
PERFORMANCE
MATERIALS BUSINESS, A GLOBAL PROVIDER OF PROCESSING TECHNOLOGIES
AND SYSTEMS
* HILLENBRAND INC - PROPOSED DEAL FOR ENTERPRISE VALUE OF
APPROXIMATELY $730 MILLION
* HILLENBRAND INC - TRANSACTION IS EXPECTED TO BE ACCRETIVE
TO
ADJUSTED EPS IN FIRST YEAR AFTER CLOSING
* HILLENBRAND INC - DOUBLE-DIGIT ACCRETION ANTICIPATED AFTER
FIRST
YEAR OF DEAL CLOSING
* HILLENBRAND INC - TRANSACTION IS EXPECTED TO PROVIDE
DOUBLE
DIGIT ROIC BY YEAR FIVE
* HILLENBRAND - EXPECTS TO USE CASH ON HAND AND CASH
AVAILABLE
UNDER ITS REVOLVING CREDIT FACILITY TO FUND DEAL
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