Applied Industrial Technologies Acquires Bearing Distributors And Cangro Industries; Terms Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Applied Industrial Technologies (AIT) has acquired Bearing Distributors and Cangro Industries. The financial terms of the deals were not disclosed.

September 05, 2023 | 12:04 pm
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POSITIVE IMPACT
Applied Industrial Technologies has expanded its business by acquiring Bearing Distributors and Cangro Industries. The impact on its stock price will depend on the financial performance of the acquired companies.
Acquisitions often lead to an increase in the stock price of the acquiring company, especially if the acquired companies are expected to contribute positively to the financial performance of the acquiring company. However, the exact impact will depend on the financial performance of Bearing Distributors and Cangro Industries, which is currently unknown.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100