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MarketScreener Homepage  >  Equities  >  Nyse  >  Eaton Corporation plc    ETN   IE00B8KQN827

EATON CORPORATION PLC

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Eaton : Danfoss' acquisition of Eaton's Hydraulics not opposed

10/15/2020 | 03:23am EST

https://www.accc.gov.au

The ACCC will not oppose Danfoss A/S's (Danfoss) proposed acquisition of Eaton Corporation plc's hydraulics business (Eaton Hydraulics).

Danfoss and Eaton Hydraulics are global suppliers of hydraulics systems and components, including hydraulic motors, valves, pumps, steering units and other products for use in on-road and off-road vehicles.

In Australia, their products are supplied through distributors, and directly to original equipment manufacturers.

"Following the proposed acquisition, Danfoss and Eaton would continue to face strong competition from Bosch Rexroth, Parker Hannifin, M+S and other overseas suppliers," ACCC Commissioner Stephen Ridgeway said.

"All hydraulics systems and components are imported into Australia. Market participants did not identify any products for which other imports are not readily available."

"Given the information we obtained and feedback from the market, we concluded that this transaction would not substantially lessen competition in any relevant hydraulics market," Mr Ridgeway said.

Further information is available at Danfoss A/S - Eaton Hydraulics.

Background

Danfoss is a major supplier of power and control systems, with its hydraulic products used in various industries including agriculture, construction, manufacturing and mining. It is headquartered in Denmark.

Eaton Corporation is a diversified industrial manufacturer with corporate headquarters in Ireland and operation headquarters in the USA. They are active in hydraulics, electrical, vehicle, aerospace and filtration. The proposed acquisition is limited to Eaton's hydraulic business segment.

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(C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials (USD)
Sales 2020 17 761 M - -
Net income 2020 1 416 M - -
Net Debt 2020 7 400 M - -
P/E ratio 2020 34,9x
Yield 2020 2,43%
Capitalization 48 140 M 48 140 M -
EV / Sales 2020 3,13x
EV / Sales 2021 3,00x
Nbr of Employees 92 000
Free-Float 99,8%
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 118,05 $
Last Close Price 120,26 $
Spread / Highest target 12,3%
Spread / Average Target -1,84%
Spread / Lowest Target -15,2%
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Managers
NameTitle
Craig Arnold Chairman & Chief Executive Officer
Richard H. Fearon Vice Chairman, Chief Financial & Planning Officer
William W. Blausey Chief Information Officer & Senior Vice President
Ramanath Ramakrishnan Chief Technology Officer & Executive VP
Gerald Bernard Smith Independent Director
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