Fortive Pens Deal To Buy Electronic Test Solution Provider EA Elektro-Automatik For $1.45B
Portfolio Pulse from Lekha Gupta
Fortive Corp (NYSE:FTV) has signed a definitive deal to acquire EA Elektro-Automatik Holding GmbH for $1.45 billion in cash. The acquisition is expected to be accretive to FTV's adjusted gross and operating margins and neutral to modestly accretive to adjusted EPS in fiscal 2024. The transaction is expected to close in early Q1 2024, subject to customary closing conditions and regulatory approvals. Fortive plans to fund the acquisition through cash in hand and debt financing.
October 23, 2023 | 1:17 pm
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Fortive's acquisition of EA Elektro-Automatik is expected to be accretive to its adjusted gross and operating margins and neutral to modestly accretive to adjusted EPS in fiscal 2024. The deal is expected to close in early Q1 2024.
The acquisition is expected to be beneficial for Fortive's financials, potentially leading to an increase in its stock price. However, the deal is still subject to regulatory approvals and customary closing conditions, which introduces some uncertainty.
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