Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

EATON CORPORATION PLC

(ETN)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Eaton : New Milestones Reached in the Sale of Eaton's Hydraulics Business to Danfoss

07/14/2021 | 03:38pm EDT

Sale expected to close in the next several weeks

Power management company Eaton (NYSE:ETN) is pleased to announce that it has reached two important milestones in the closing of the sale of its Hydraulics business to Danfoss A/S.

First, the U.S. Department of Justice (DOJ) has filed a proposed settlement in the U.S. District Court for the District of Columbia today that, if approved by the court, resolves the DOJ’s concerns with Danfoss’s acquisition of Eaton’s Hydraulics business.

The settlement requires the sale of certain orbital motor and steering unit assets to Interpump Group S.p.A., or to another entity approved by the DOJ. This sale does not have to be completed, however, prior to the closing of the company's transaction with Danfoss.

Eaton and Danfoss have already agreed to the proposed settlement.

Second, the European Commission approved Interpump as a suitable purchaser of the orbital motor and steering assets. These assets were required to be divested by the European Commission under the conditional approval granted in March 2021.

“We are excited to reach these important milestones and look forward to closing the transaction, which we currently expect to occur in the next several weeks,” said Craig Arnold, Eaton chairman and chief executive officer. “We appreciate the careful consideration of the Department of Justice and the European Commission, as well as the other regulators who reviewed the transaction.”

Eaton’s mission is to improve the quality of life and the environment through the use of power management technologies and services. We provide sustainable solutions that help our customers effectively manage electrical, hydraulic, and mechanical power – more safely, more efficiently, and more reliably. Eaton’s 2020 revenues were $17.9 billion, and we sell products to customers in more than 175 countries. We have approximately 94,000 employees. For more information, visit Eaton.com.

This news release contains forward-looking statements about the expected closing of the sale of our Hydraulics business. These statements should be used with caution and are subject to various risks and uncertainties, some of which are outside of the company’s control. Factors that could cause these statements to become untrue include possible delay or difficulty closing the transaction. We do not assume any obligation to update these forward-looking statements.


ę Business Wire 2021
All news about EATON CORPORATION PLC
09/23Eaton Introduces Zero-Leak Compact Combo Valve to Manage Harmful Fuel Vapors and Meet U..
CI
09/23EATON : introduces new zero-leak Compact Combo Valve to manage harmful fuel vapors and mee..
PU
09/17EATON : to Participate in the BofA Securities 2021 Industrial Software & Automation Summit..
BU
09/15Eaton Corporation to Seek Acquisitions
CI
09/15EATON TO PARTICIPATE IN THE 2021 CAT : Embrace a new global economy
PU
09/14EATON : HSBC Downgrades Eaton to Hold from Buy, Lowers Price Target to $153 From $160
MT
09/14Today on Wall Street: Core inflation is lower than expected
09/14ANALYST RECOMMENDATIONS : Apple, Bank of America, Cisco, DT Midstream, Halliburton...
09/10EATON : Goldman Sachs Adjusts Eaton's Price Target to $186 from $182, Keeps Buy Rating
MT
09/08EATON : Vehicle Group partners with Ballard Fuel Cell Systems and National Renewable Energ..
PU
More news
Analyst Recommendations on EATON CORPORATION PLC
More recommendations
Financials (USD)
Sales 2021 20 161 M - -
Net income 2021 2 121 M - -
Net Debt 2021 9 336 M - -
P/E ratio 2021 29,1x
Yield 2021 1,98%
Capitalization 61 871 M 61 871 M -
EV / Sales 2021 3,53x
EV / Sales 2022 3,43x
Nbr of Employees 85 000
Free-Float 99,8%
Chart EATON CORPORATION PLC
Duration : Period :
Eaton Corporation plc Technical Analysis Chart | ETN | IE00B8KQN827 | MarketScreener
Technical analysis trends EATON CORPORATION PLC
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 155,15 $
Average target price 175,35 $
Spread / Average Target 13,0%
EPS Revisions
Managers and Directors
Craig Arnold Chairman & Chief Executive Officer
Thomas Bernard Okray Chief Financial Officer & Executive Vice President
Raja Ramana Macha Chief Technology Officer & Executive VP
Katrina R. Redmond Chief Information Officer & Senior Vice President
Joe Rodgers Senior Vice President-Ethics & Compliance
Sector and Competitors
1st jan.Capi. (M$)
EATON CORPORATION PLC29.86%61 871
KEYENCE CORPORATION19.29%155 536
SCHNEIDER ELECTRIC SE26.68%97 533
NIDEC CORPORATION1.16%69 975
EMERSON ELECTRIC CO.19.83%57 574
ROCKWELL AUTOMATION, INC.20.64%35 106