Eaton to Sell Hydraulics Unit to Danfoss for $3.3 Billion
January 21 2020 - 4:54PM
Dow Jones News
By Josh Beckerman
Power management company Eaton Corp. (ETN) has agreed to sell
its Hydraulics business to Danfoss A/S (DAN.YY) for $3.3 billion, a
deal expected to help Eaton become a "higher growth company with
better earnings consistency."
Eaton said the Hydraulics business had sales of $2.2 billion in
2019 and has about 11,000 employees. Eaton will retain the
Filtration and Golf Grip businesses in the Hydraulics segment.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
January 21, 2020 16:39 ET (21:39 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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