Brief: Simpson Manufacturing Submits Binding Offer To Acquire Etanco Group For 725 Million Euros

Simpson Manufacturing

29/12/2021 21:21

Dec 29 (Reuters) - Simpson Manufacturing Co Inc  SSD.N :
    * SIMPSON MANUFACTURING CO., INC. ANNOUNCES BINDING OFFER TO
ACQUIRE ETANCO GROUP
    * SIMPSON MANUFACTURING CO INC - SUBMITS BINDING OFFER TO
ACQUIRE
LEADING EUROPEAN BUILDING PRODUCT SOLUTIONS COMPANY, FOR
PURCHASE PRICE OF EUR 725 MILLION
    * SIMPSON MANUFACTURING CO INC - ACQUISITION ANTICIPATED TO
BE
ACCRETIVE TO COMPANY'S EARNINGS WITHIN FIRST FULL FISCAL YEAR
AFTER CLOSING.
    * SIMPSON MANUFACTURING - EXPECTS TO REALIZE OPERATING
INCOME
SYNERGIES OF ABOUT $30 MILLION, ON AN ANNUAL RUN RATE BASIS,
WITHIN 36 MONTHS FOLLOWING DEAL
    * SIMPSON - DEAL EXPECTED TO BE FUNDED BY $100 MILLION OF
EXISTING
CASH WITH REMAINDER FROM BORROWINGS UNDER CO'S EXISTING
REVOLVING CREDIT FACILITY
    * SIMPSON MANUFACTURING - DEAL EXPECTED TO BE FUNDED VIA
$450
MILLION UNSECURED TERM LOAN

Source text for Eikon:  ID:nPn6CfXKfa 
Further company coverage:  SSD.N 

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