Investing.com UK - Financial Markets Worldwide
Get 40% Off
Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

Germany's Stabilus to buy Dover's business unit for $680 million

Published 12/10/2023, 04:35
Updated 12/10/2023, 04:42
© Reuters.

(Reuters) - Industrial and automotive supplier Stabilus SE will acquire a business unit of US manufacturer Dover Corp (NYSE:DOV) in a deal with an enterprise value of $680 million, the companies said in separate statements on Wednesday.

The deal is expected to increase Stabilus' sales with an immediate positive impact on its adjusted earnings before interest and tax (EBIT) margin after completion, the German company said.

Dover's DESTACO business, which supplies industrial automation components, will complement Stabilus' offering in the industrial sector, it added.

The acquisition has no impact on the German company's business figures and forecast for fiscal 2023, and is expected to close in the first half of 2024, subject to closing conditions, Stabilus said.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.