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Stock Market & Financial Investment News

News Breaks
February 22, 2013
06:21 EDTB, MSMMSC Industrial acquires Barnes Distribution North America for $550M
MSC Industrial (MSM) announced that it has signed a definitive agreement to acquire substantially all of the assets and assume certain liabilities of the North American distribution business of the Barnes Group (B). The purchase price will be $550M and the asset purchase structure results in significant future tax benefits with a net present value estimated to be more than $100M. Run-rate cost synergies are expected to reach $15M-$20M by FY15. The acquisition is expected to close during the company's Q3 and will be financed using available cash and borrowings under an anticipated new credit facility and term loan structure. The acquisition is expected to be accretive to cash flow and EPS, including synergies and excluding transaction and integration costs, by contributing an expected incremental EPS of 15c-20c and 30c-40c in FY14 and FY15, respectively. The vast majority of transaction and integration costs will be incurred in fiscal years 2013 and 2014.
News For MSM;B From The Last 14 Days
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November 17, 2014
16:31 EDTMSMMSC Industrial CFO Jeff Kaczka to retire
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November 14, 2014
12:41 EDTMSMMSC Industrial management to meet with Jefferies
Meeting to be held in Boston on November 19 hosted by Jefferies.
November 12, 2014
09:14 EDTMSMMSC Industrial Customer Fulfillment Center achieves ISO 9001:2008 certification
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