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Stock Market & Financial Investment News

News Breaks
February 22, 2013
06:21 EDTMSM, BMSC 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.
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September 17, 2014
07:37 EDTMSMMSC Industrial management to meet with UBS
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September 16, 2014
09:54 EDTBXylem names Claudia Toussaint as general counsel
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08:08 EDTBBarnes Group announces resignation of General Counsel Claudia Toussaint
Barnes announced in a filing that on September 10, Claudia Toussaint, SVP, General Counsel & Secretary, and a named executive officer of Barnes Group, gave notice of her resignation of employment with the company. The resignation will not be effective until after an orderly transition of her duties. The company expects the resignation to be effective on or about October 20.
September 12, 2014
11:55 EDTBBarnes Group management to meet with Jefferies
Meetings to be held in Chicago ob September 17-18 hosted by Jefferies.

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