logo
Plus   Neg
Share
Email

Hillenbrand To Buy Milacron In $2 Bln Deal

Hillenbrand Inc. (HI) said that it agreed to buy Milacron Holdings Corp. (MCRN) in a cash and stock transaction valued at about $2 billion, including net debt of about $686 million.

As per the terms of the agreement, Milacron stockholders will receive $11.80 in cash and a fixed exchange ratio of 0.1612 shares of Hillenbrand common stock for each share of Milacron common stock they own.

In Friday pre-market trade, MCRN is trading at $16.77 up $3.24 or 23.95 percent.

Based on Hillenbrand's closing stock price on July 11, 2019, the implied cash and stock consideration to be received by Milacron stockholders is $18.07 per share, representing a premium of about 34% to Milacron's closing stock price on July 11, 2019.

Upon closing of the transaction, Hillenbrand shareholders will own about 84% of the combined company, and Milacron stockholders will own about 16%.

The transaction, which is expected to close in the first calendar quarter of 2020, is expected to deliver double-digit adjusted earnings per share accretion in the first year following close.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration or FDA announced on its website that pharma major Pfizer, Inc. issued recall of two lots of tablets meant to treat acute migraine in adults for concerns over bacteria infection. The pharma company is recalling two lots of Relpax (eletriptan hydrobromide) 40 mg tablets for potential presence of Genus Pseudomonas and Burkholderia bacteria. Cosmetics company Revlon Inc. (REV) is reportedly considering a potential sale of parts or all of its business. According to Bloomberg, Revlon has retained financial advisers from Goldman Sachs Group Inc. to explore strategic alternatives. No deal has been reached yet, but Revlon is exploring all... China's Lenovo Group Ltd. warned it may have to raise prices of its products if the U.S. moves ahead with the decision to impose additional tariffs on Chinese goods, according to a report by Reuters. The warning by Lenovo, the world's largest PC maker, comes amid the escalating trade war between the U.S. and China that has raised concerns about the global economic outlook.
Follow RTT