Quanex Building Products Agrees To Acquire Tyman For $1.1B, Enhancing Building Products Offerings
Portfolio Pulse from Benzinga Newsdesk
Quanex Building Products has announced its agreement to acquire Tyman for $1.1 billion, aiming to enhance its building products offerings. This acquisition is part of Quanex's 'BIGGER' strategic roadmap, expected to expand its product range with Tyman's complementary portfolio. The deal is anticipated to significantly increase Quanex's scale and global presence, positioning the combined entity for profitable growth and value creation. It is also expected to be materially accretive to EPS in the first fiscal year following the close, with around $30 million in annual run-rate cost synergies.
April 22, 2024 | 6:24 am
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Quanex's acquisition of Tyman for $1.1 billion is set to expand its product offerings and enhance its global scale, with the deal expected to be EPS accretive in the first fiscal year and generate $30 million in annual cost synergies.
The acquisition of Tyman by Quanex is a strategic move to enhance its product offerings and global presence, which is likely to be viewed positively by investors. The expected EPS accretion and cost synergies indicate a strong financial outlook post-acquisition, suggesting a potential positive impact on Quanex's stock price in the short term.
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