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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.
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(END) Dow Jones Newswires
January 21, 2020 16:39 ET (21:39 GMT)
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