logo
  Join        Login             Stock Quote

Carlisle (CSL) Paying $265M To Acquire Cable Businesses Of Belden (BDC)

 November 29, 2012 07:59 AM
 


(By Balachander) Carlisle Companies Inc. (NYSE: CSL) has agreed to acquire the Thermax-Raydex cable businesses of Belden Inc. (NYSE: BDC) for $265 million.

Diversified manufacturing company Carlisle said the acquisition will strengthen its "interconnect products business in very attractive aerospace and industrial sectors."

Charlotte, North Carolina-based Carlisle expects the deal to be accretive in the first year.

The Thermax-Raydex business supplies high-performance hook-up, data and coaxial wire and cable for mission-critical applications for commercial aerospace, defense and industrial customers. Thermax-Raydex recorded annual sales of roughly $112 million.

[Related -The Industrial Sector Offers A Lot Of Value, Dividend Growth And Income]

St. Louis, Missouri-based Belden, which provides signal transmission services for mission-critical applications, said its board has authorized up to $200 million of additional stock repurchases.

"The company's strong balance sheet, liquidity position and ability to generate significant free cash flow provide Belden with the opportunity to purchase our equity at an attractive price," Belden CEO John Stroup said.

The deal is expected to be completed by December 31, 2012.

On Wednesday, CSL shares ended at $56.07 and BDC shares closed at $36.26.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageCrude Rebound

Since the price of crude oil broke below $90 per barrel in September, the Brent global benchmark has been read on...

article imageShould You Invest In The Hottest New Trend In Finance?

Thanks to major changes in regulation, social media and technology, the business of banking has undergone read on...

article imageStrong Attractor in Action Pulling S&P 500 Down

The attractor is formed by the 200-day moving average and the 50% Fibonacci retracement of the up move from read on...

article imageIs The Weak Housing Market A Warning Sign For The US Economy?

Today’s US economic releases – housing starts and business survey data for the manufacturing sector – read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.