Regal-Beloit acquires Bernshaw from Curtiss-Wright Regal Beloit (RBC) announced it has acquired Benshaw from Curtiss-Wright (CW). Benshaw has estimated annual revenues of approximately $60M. For the H2 of 2014, Benshaw is anticipated to be 2c dilutive Regal's earnings per share, including the impact of purchase accounting adjustments and transaction costs. For 2015, Benshaw is anticipated to be accretive to earnings per share by 6c-9c. The purchase price was approximately $50M.
News For RBC;CW From The Last 14 Days
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On The Fly: Analyst Downgrade Summary Today's noteworthy downgrades include: BHP Billiton (BHP) downgraded to Underperform from Neutral at Credit Suisse... GT Advanced (GTAT) downgraded to Underperform from Outperform at CLSA... Hertz (HTZ) downgraded to Hold from Buy at Deutsche Bank... IDEXX (IDXX) downgraded to Sell from Neutral at Northcoast... Prestige Brands (PBH) downgraded to Neutral from Buy at Sidoti... Real Goods Solar (RGSE) downgraded to Neutral from Buy at Roth Capital... Regal-Beloit (RBC) downgraded to Neutral from Buy at Longbow... SunCoke Energy (SXC) downgraded to Neutral from Outperform at Credit Suisse... Tidewater (TDW) downgraded to Market Perform from Outperform at Clarkson Capital.