Hillenbrand (HI, $34.58) to buy Milacron (MCRN, $16.85) in $2 billion deal
Manufacturing company Hillenbrand announced on Friday that it has agreed to acquire plastics-processing equipment maker Milacron Holdings in a $2 billion deal (including debt). The deal is expected to close in the first quarter of 2020.
Under the cash-and-stock deal, Milacron shareholders will get $11.80 in cash and a fixed exchange ratio of 0.1612 of Hillenbrand shares for each share of Milacron common stock they own.
The deal will also include net debt of about $686 million.
Hillenbrand expects that the acquisition would increase adjusted earnings in the "double-digit" range in the first year after closing, and generate annualized cost synergies of about $50 million within three years.
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General Information
a manufacturer of casket products
Industry IndustrialMachinery
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