logo
Plus   Neg
Share
Email

Masco Corp. To Sell Masco Cabinetry To ACProducts - Quick Facts

Masco Corp. (MAS) has entered into an agreement to sell Masco Cabinetry to ACProducts, Inc., owned by American Industrial Partners, for $1.0 billion, consisting of $850 million in cash and preferred stock issued by a holding company of the buyer
with a liquidation preference of $150 million. Masco Cabinetry will be accounted for as discontinued operations for the fourth quarter.

Masco Corp. said its anticipated earnings per share from continuing operations for the full year is expected to be $2.12 to $2.16 per share on a reported basis, and $2.19
to $2.23 per share on an adjusted basis.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Former Google engineer Anthony Levandowski was sentenced by a U.S. judge to eighteen months in prison for stealing trade secrets from Google's self-driving car unit before he defected to Uber's rival unit. Levandowski admitted that from 2009 to 2016, he worked in Google's self-driving car program, known then as Project Chauffer. JetBlue has strengthened its face covering policy, by prohibiting face masks with vents or exhalation valves, starting August 10. It will also no longer allow customers to claim exemptions from wearing a face covering altogether. Home Depot, Inc. is set to open three new distribution centers in Georgia over the next 18 months, which is expected to create an additional 1,000 new jobs in Greater Atlanta, including full-time and part-time positions. The home improvement retailer has already created more than 5,000 new jobs in Georgia over the last five years.
RELATED NEWS
Follow RTT