Vontier Corporation

NYSE:VNT   3:59:50 PM EDT
32.50
+0.19 (+0.59%)
Other Pre-Announcement, Mergers / Acquisitions

Vontier To Acquire DRB Systems For About $965 Million

Published: 07/19/2021 12:57 GMT
Vontier Corporation (VNT) - Vontier to Acquire Drb Systems, Llc for Approximately $965 Million and Provides Update on Second Quarter 2021 Finanical Performance.
Vontier Corp - Q2 2021 Core Revenue Growth and Adjusted Diluted Net Earnings per Share Are Expected to Be Above Previously Announced Guidance.
Vontier Corp - Deal Expected to Be Accretive to Earnings and Free Cash Flow in 2022.
Vontier Corp - Deal Will Be Financed With Available Cash and Proceeds From Borrowings Under Co's Credit Facilities.
Vontier Corp - Purchase Price Includes an Approximate $130 Million Deferred Tax Asset, Which Co Expects to Be Able to Utilize Over Next 15 Years.
Vontier Corp - Expects Drb to Generate Approximately $170 Million of Revenue in 2021 With Mid-20% Operating Margins.