Vertiv Holdings Co - Ordinary Shares - Class A

NYSE:VRT   3:59:59 PM EDT
24.11
+0.11 (+0.46%)
Other Pre-Announcement

Vertiv To Acquire The E&I Engineering Group

Published: 09/08/2021 10:11 GMT
Vertiv Holdings Co - Ordinary Shares - Class A (VRT) - Vertiv to Acquire the E&i Engineering Group.
Deal for Approximately $1.8 Billion.
Deal Also Includes Potential for Up to $200 Million in Cash, Based on Achieving Certain 2022 Profit Milestones.
Transaction is Expected to Be Accretive to Vertiv's Organic Growth, Adjusted Operating Margins, Cash Flow and EPS in 2022.
Plans to Finance Transaction With Cash on Hand and New Debt Financing, Supported by Committed Financing.
Upfront Consideration of About $1.8 Billion Consists of $1.17 Billion in Cash and About $630 Million of Stock.
Revising Its Guidance for Q3 and Full Year 2021.
Sees 2021 Net Sales $4,880 Million - $4,940 Million.
Sees 2021 Adjusted EPS $0.96 - $1.01.
Sees Q3 2021 Net Sales $1,210 Million - $1,250 Million.
Sees Q3 2021 Adjusted EPS $0.17 - $0.20.
FY2021 Earnings per Share View $1.17, Revenue View $5.01 Billion -- Refinitiv Ibes Data (analyst estimates).
Q3 Earnings per Share View $0.29, Revenue View $1.28 Billion -- Refinitiv Ibes Data (analyst estimates).