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Stock Market & Financial Investment News

News Breaks
June 27, 2014
08:01 EDTABB, TRNTrinity Industries to acquire assets of Meyer Steel Structures for $600M
Trinity Industries (TRN) announced that it has entered into an agreement to acquire the assets of Meyer Steel Structures, the utility steel structures division of Thomas & Betts Corporation, a member of the ABB Group (ABB), for a purchase price of approximately $600M. The transaction is subject to customary regulatory approvals and is expected to close during the third quarter. Trinity expects to fund the purchase price with available cash on hand. Trinity expects the transaction will be accretive to full-year 2014 earnings but cannot provide a range of earnings guidance until the transaction is completed and purchase price accounting entries are finalized.
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