Eaton to Sell Hydraulics Unit to Danfoss for $3.3 Billion

Date : 01/21/2020 @ 9:54PM
Source : Dow Jones News
Stock : Eaton Corp New (ETN)
Quote : 103.55  0.0 (0.00%) @ 12:13PM
Pre-Market
Last Trade
Last $ 104.20 ▲ 0.65 (0.63%)

Eaton to Sell Hydraulics Unit to Danfoss for $3.3 Billion

Eaton (NYSE:ETN)
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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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