Brief: Interface Agrees To Acquire Nora Systems

Interface

14/06/2018 11:55

June 14 (Reuters) - Interface Inc  TILE.O :
    * INTERFACE AGREES TO ACQUIRE NORA SYSTEMS
    * SIGNED A DEFINITIVE AGREEMENT TO ACQUIRE NORA SYSTEMS IN A
STOCK
PURCHASE TRANSACTION VALUED AT APPROXIMATELY $420 MILLION
    * NORA ACQUISITION, WHEN COMPLETED, IS EXPECTED TO BE
ACCRETIVE TO
INTERFACE'S MARGINS AND ADJUSTED EARNINGS PER SHARE
    * BANK OF AMERICA HAS COMMITTED TO FINANCE TRANSACTION
THROUGH A
TERM LOAN FACILITY
    * NORA IS ANTICIPATED TO INCREASE CO'S ADJUSTED EPS, A
NON-GAAP
MEASURE, $0.03 TO $0.06 IN 2018, AND $0.15 TO $0.20 IN 2019
    * CAPITAL EXPENDITURES FOR FULL YEAR POST-CLOSING ARE
FORECASTED
TO BE $55 MILLION TO $65 MILLION
    * FY2018 EARNINGS PER SHARE VIEW $1.44 -- THOMSON REUTERS
I/B/E/S
    * FY2019 EARNINGS PER SHARE VIEW $1.61 -- THOMSON REUTERS
I/B/E/S
    * INTERFACE - AGREES TO ACQUIRE PRIVATELY HELD COMPANY NORA
SYSTEMS, A MANUFACTURER OF COMMERCIAL RUBBER FLOOR COVERING
SYSTEMS

Source text for Eikon:  ID:nPnFzhD0a 
Further company coverage:  TILE.O 

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