Expanding Horizons: How Knowles' $263M Cornell Dubilier Acquisition Will Supercharge Its 2024 Earnings
Portfolio Pulse from Shivani Kumaresan
Knowles Corp (NYSE:KN) has agreed to acquire Cornell Dubilier for $263 million in an all-cash transaction. The acquisition is expected to expand Knowles' market through Cornell Dubilier's capacitor offerings and be accretive to Knowles' non-GAAP EPS in 2024. The deal is expected to close in Q4 2023. Knowles also announced it is reviewing strategic alternatives for its CMM business.
September 18, 2023 | 4:39 pm
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POSITIVE IMPACT
Knowles' acquisition of Cornell Dubilier for $263M is expected to expand its market and boost its 2024 earnings. The company is also reviewing strategic alternatives for its CMM business.
The acquisition of Cornell Dubilier is a strategic move for Knowles Corp to expand its market and boost its earnings. The company's stock price is likely to be positively impacted in the short term due to the market's positive reaction to the acquisition news. The review of strategic alternatives for its CMM business also indicates the company's proactive approach to optimizing its business portfolio, which could further boost investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100