TE Connectivity Snaps Up Richards Manufacturing For $2.3 Billion: Details
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
TE Connectivity Acquisition: TE Connectivity plc is acquiring Richards Manufacturing Co. for approximately $2.3 billion in cash, aiming to enhance its position in North America's electrical utility market and generate significant returns through synergies.
Financial Impact: The acquisition is expected to contribute around $400 million in annual sales with mid-30% EBITDA margins, and is projected to add 10 cents to adjusted EPS in the first full year post-acquisition, despite a recent decline in TE's share price.
Analyst Views on FPAG
Wall Street analysts forecast FPAG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FPAG is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
