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Stock Market & Financial Investment News

News Breaks
March 21, 2014
08:03 EDTNTK, ABBNortek to acquire HVAC business of Thomas & Betts for $260M
Nortek (NTK) announced it has signed a definitive agreement to acquire the heating, ventilation and air conditioning business of Thomas & Betts Corporation, which is a wholly owned subsidiary of ABB (ABB). Under the terms of the agreement, Nortek will pay approximately $260M for Thomas & Betts' HVAC Business in an all-cash transaction. Net sales of T&B HVAC were approximately $160M in 2013. The transaction is expected to close during the second quarter of 2014, subject to customary closing conditions including approval pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
News For NTK;ABB From The Last 14 Days
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October 20, 2014
07:22 EDTABBSolar Energy Trade Shows to hold a conference
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October 10, 2014
16:37 EDTNTKGates Capital Management reports 20.57% passive stake in Nortek
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October 9, 2014
10:00 EDTNTKOn The Fly: Analyst Initiation Summary
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05:25 EDTNTKNortek initiated with an In-Line at Imperial Capital
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October 8, 2014
17:46 EDTNTKNortek acquires HVAC distribution business of Phoenix Wholesale
Nortek announced that it has acquired the HVAC distribution business of privately owned Phoenix Wholesale. Operating out of five facilities in Arizona, including locations in Flagstaff, Tempe and Tucson, the business will be integrated into Nortek's Residential Heating and Cooling segment. Nortek expects the transaction, which was funded from existing cash on hand, to generate incremental revenue in the range of $15M-$20M over the next 12 months.

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