Brief: Resideo To Acquire Snap One To Expand Presence In Smart Living Products And Distribution

Resideo Technologies

15/04/2024 11:14

April 15 (Reuters) - Resideo Technologies Inc  REZI.N :
    * RESIDEO TO ACQUIRE SNAP ONE TO EXPAND PRESENCE IN SMART
LIVING
PRODUCTS AND DISTRIBUTION
    * SNAP ONE HOLDINGS CORP: PROPOSED DEAL FOR $10.75 PER SHARE
IN
CASH
    * SNAP ONE HOLDINGS CORP: PROPOSED DEAL FOR TRANSACTION
VALUE OF
APPROXIMATELY $1.4 BILLION
    * SNAP ONE HOLDINGS CORP: TRANSACTION HAS BEEN UNANIMOUSLY
APPROVED BY BOARDS OF DIRECTORS OF RESIDEO AND SNAP ONE
    * SNAP ONE HOLDINGS CORP: DEAL TRANSACTION VALUE INCLUSIVE
OF NET
DEBT
    * SNAP ONE HOLDINGS CORP: UPON CLOSING, SNAP ONE WILL
INTEGRATE
INTO RESIDEO'S ADI GLOBAL DISTRIBUTION BUSINESS
    * SNAP ONE HOLDINGS CORP: TRANSACTION IS EXPECTED TO BE
ACCRETIVE
TO RESIDEO NON-GAAP EPS IN FIRST FULL YEAR OF OWNERSHIP
    * SNAP ONE HOLDINGS CORP:  TRANSACTION WITH FAVORABLE
REVENUE
GROWTH AND MARGIN PROFILE TO ADI AND RESIDEO AS A WHOLE
    * SNAP ONE HOLDINGS: RESIDEO TO USE PROCEEDS FROM COMMITTED
DEBT
FINANCING, CASH ON HAND TO FUND TRANSACTION
    * SNAP ONE HOLDINGS: RESIDEO TO ALSO USE PROCEEDS FROM $500
MILLION PERPETUAL CONVERTIBLE PREFERRED EQUITY INVESTMENT FROM
CD&R TO FUND TRANSACTION

Source text for Eikon:  ID:nPnNZKpqa 
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