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Emerson Electric Co. (EMR) - $25 value - yours FREE >>
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Emerson Electric Co. (EMR) - $25 value - yours FREE >>
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Emerson (EMR) to Sell InSinkErator Business Unit for $3B
Emerson Electric Co. (EMR - Free Report) has entered into an agreement with Whirlpool Corporation (WHR) to sell its InSinkErator business for $3 billion.
Emerson acquired InSinkErator, a manufacturer of food waste disposers and instant hot water dispensers for home and commercial use, in 1968. InSinkErator generated revenues of $595 million in the trailing twelve-month revenue, as of Mar 31, 2022. Emerson carries a Zacks Rank #3 (Hold).
Subject to regulatory approvals and other customary closing conditions, the deal is expected to close in Emerson’s 2023 fiscal year. By coordinating with Whirlpool, Emerson will help ensure a smooth transition for customers and InSinkErator’s nearly 1,400 employees.
Emerson Electric Co. Price
Emerson Electric Co. price | Emerson Electric Co. Quote
InSinkErator's leading consumer brand preference, a large installed base and its expansion into new markets and product offerings are expected to boost revenues for Whirlpool. The acquisition is expected to add approximately $1.25 to WHR’s earnings in fiscal 2023. Upon the transaction’s closing, InSinkErator is expected to operate as a separate entity within WHR’s North America region.
Whirlpool’s chairman and CEO, Marc Bitzer, said, “The acquisition is a clear accelerator of our ongoing portfolio transformation and aligned with our stated goals of investing in high-growth and high-margin businesses and Win Americas," Whirlpool carries a Zacks Rank #4 (Sell).
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