Brief: Newell Brands Announces Agreement To Sell The Connected Home & Security Business To Resideo Technologies, Inc.

Resideo Technologies

07/02/2022 13:11

Feb 7 (Reuters) - Resideo Technologies Inc  REZI.N :
    * PRESS RELEASE - NEWELL BRANDS ANNOUNCES AGREEMENT TO SELL
THE
CONNECTED HOME & SECURITY BUSINESS TO RESIDEO TECHNOLOGIES, INC.
    * NEWELL BRANDS ANNOUNCES AGREEMENT TO SELL THE CONNECTED
HOME &
SECURITY BUSINESS TO RESIDEO TECHNOLOGIES, INC.
    * NEWELL BRANDS INC - GROSS PROCEEDS FROM DIVESTITURE ARE
EXPECTED
TO BE $593 MILLION
    * NEWELL BRANDS INC - TRANSACTION IS EXPECTED TO HAVE AN
APPROXIMATELY NEUTRAL IMPACT ON COMPANY'S NORMALIZED EARNINGS
PER SHARE IN 2022
    * NEWELL BRANDS INC - NEWELL BRANDS' BOARD OF DIRECTORS HAS
AUTHORIZED A $375 MILLION SHARE REPURCHASE PROGRAM, EFFECTIVE
IMMEDIATELY
    * NEWELL BRANDS INC - ANTICIPATES USING AFTER-TAX PROCEEDS
OF
TRANSACTION TOWARD BOTH DEBT PAYDOWN AND SHARE REPURCHASE

Source text for Eikon:  ID:nBw62Fglga 
Further company coverage:  REZI.N 

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