Dover Divests DESTACO Business Unit For $680M To Focus On Its Core Platforms
Portfolio Pulse from Shivani Kumaresan
Dover Corp (NYSE:DOV) has agreed to sell its De-Sta-Co business (DESTACO) to Stabilus SE (OTC:SIUAF) for $680 million. DESTACO, part of Dover's Engineered Products segment, designs, manufactures, and markets workholding and automation components for industrial automation applications. The deal is expected to close in the first half of 2024.
October 12, 2023 | 9:49 am
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Dover Corp is selling its De-Sta-Co business to Stabilus SE for $680 million, allowing it to focus on its core platforms.
The sale of the De-Sta-Co business will allow Dover to concentrate on its core platforms, which could lead to improved performance and potentially a positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Stabilus SE is acquiring the De-Sta-Co business from Dover Corp for $680 million, expanding its focus on industrial automation.
The acquisition of the De-Sta-Co business will expand Stabilus' focus on industrial automation, which could lead to increased revenues and a positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100