General Electric Co.

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Debt Financing / Related, Divestitures / Spin-offs, Other Pre-Announcement

Spx Announces Agreement To Sell Spx Transformer Solutions To GE-Prolec Transformers

Published: 06/09/2021 10:46 GMT
General Electric Co. (GE) - Press Release - Spx Announces Agreement to Sell Spx Transformer Solutions to Ge-prolec Transformers.
Deal for Cash Purchase Price of $645 Million.
Spx Anticipates That After Taxes on a Gain From Sale, Net Proceeds Will Be Approximately $540 Million.
Now Anticipates Adjusted Earnings per Share for 2021 in a Range of $2.17 to $2.37.
Anticipates 2021 Adjusted Revenue of About $1.25 Billion.
Spx Plans to Update Its Segment Reporting Structure to Eliminate Engineered Solutions Segment.
Expects to Account for Results of Spx Transformer Solutions As Discontinued Operations When It Reports Q2 2021 Results.
Plans to Update Its Segment Reporting Structure to Eliminate Engineered Solutions Segment.
Plans to Report Results of Its Process Cooling Business Within Its Hvac Segment.
FY2021 Earnings per Share View $3.20, Revenue View $1.69 Billion -- Refinitiv Ibes Data (analyst estimates).