Steve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch.
Fortive Corp. FTV, -1.21% said Monday it will pay $1.45 billion net of $215 million of tax benefits to buy EA Elektro-Automatik Holding GmbH, a supplier of electronic testing for energy storage, mobility, hydrogen and renewable energy applications, from seller Bregal Unternehmerkapital.
Fortive expect to close the deal early in the first quarter of 2024. The acquisition of EA Elektro-Automatik is expected to add to Fortive Corp.’s adjusted gross and operating margins and be neutral to modestly accretive to adjusted diluted net earnings per share in fiscal 2024. Fortive’s stock was down by 0.7% in premarket trading on Monday.
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