$MLSPF
Nortek Announces Shares Successfully Tendered to Melrose Industries PLC and Subsequent Closing of Acquisition
Marketwired - Wed Aug 31, 6:30AM CDT
PROVIDENCE, RI--(Marketwired - Aug 31, 2016) - Nortek, Inc. (NASDAQ: NTK) ("Nortek" or the "Company"
, a global diversified industrial company with leading brands and innovative air management and technology-driven solutions for residential and commercial applications, today announced the successful completion of Melrose Industries PLC's ("Melrose" tender offer to purchase all outstanding shares of Nortek for $86.00 per share net, in cash and without interest. The tender offer expired at 2:00 a.m. (New York City time) on August 31, 2016.
NTK: 85.94 (-0.05)
Update on Proposed Melrose Acquisition of Nortek
BusinessWire - Tue Aug 09, 5:33PM CDT
The Board of Directors of Melrose Industries PLC ("Melrose" announced today that 1,741,612,236 New Melrose Shares have been admitted to listing on the premium listing segment of the Official List of the UK Listing Authority and have been admitted to trading, nil paid, on the London Stock Exchange's main market for listed securities at 8.00 a.m. London time today, August 9, 2016.
NTK: 85.94 (-0.05)
Nortek Reports Second Quarter 2016 Financial Results
Marketwire Canada - Mon Aug 08, 8:00AM CDT
PROVIDENCE, RI--(Marketwired - Aug 8, 2016) - Nortek, Inc. (NASDAQ: NTK), a global diversified industrial company with leading brands and innovative air management and technology-driven solutions for residential and commercial applications, today announced financial results for the three-months ended July 2, 2016.
NTK: 85.94 (-0.05)
Honeywell Expects Acquisition Of Elster To Close In 2015
PR Newswire - Tue Dec 22, 5:30AM CST
Honeywell (NYSE: HON) today announced that all necessary regulatory approvals have been received for its acquisition of the Elster Division of Melrose Industries plc and it now anticipates to close the transaction on December 29, 2015. Elster is a leading provider of thermal gas solutions for commercial, industrial, and residential heating systems and gas, water, and electricity meters, including smart meters and software and data analytics solutions. The acquisition, which Honeywell announced on July 28, 2015, closed earlier than anticipated following approval by Melrose shareholders and required regulatory approvals, including those in the U.S., European Union, and China.
HON: 115.28 (+1.25)
Fitch: Honeywell's Acquisition of Elster an Efficient Use of Cash
BusinessWire - Tue Jul 28, 2:00PM CDT
Fitch Ratings view of Honeywell International Inc.'s (HON) credit profile is unchanged by the company's planned $5.1 billion acquisition of the Elster division of Melrose Industries plc. Fitch estimates the transaction will have a limited impact on the company's leverage including debt/EBITDA which could increase to approximately 1.5x on a pro forma basis compared to 1.3x at June 30, 2015.
HON: 115.28 (+1.25)
Honeywell To Acquire Elster, A Global Leader In Gas Heating, Controls, Metering, And Advanced Technologies
PR Newswire - Tue Jul 28, 1:04AM CDT
Honeywell (NYSE: HON) today announced that it has signed a definitive agreement to acquire the Elster Division of Melrose Industries plc, a leading provider of thermal gas solutions for commercial, industrial, and residential heating systems and gas, water, and electricity meters, including smart meters and software and data analytics solutions, for approximately $5.1 billion. Elster also manufactures flow computers and regulators for the gas industry. Elster consensus sales for 2015 are estimated to be $1.8 billion. The price translates to approximately 12.6 times Elster's estimated 2015 consensus earnings before interest, taxes, depreciation, and amortization (EBITDA), and the acquisition is anticipated to occur in the first quarter of 2016. The agreement is subject to customary closing conditions, including regulatory review and Melrose shareowner vote.
HON: 115.28 (+1.25)
Hot Wires: Mechanical Cable Procurement Category Market Research Report from IBISWorld has Been Updated
PRWeb - Fri Mar 27, 2:01AM CDT
The mechanical cable market has a buyer power score of 3.3 out of 5, indicating that buyers have a slight advantage over suppliers when negotiating supply agreements. Buyers primarily benefit from the favorable pricing environment in the market. Despite strong postrecession demand from construction and industrial industries, falling input costs and increasing import competition have brought mechanical cable prices down over the past three years. For instance, "recent declines in steel prices have enabled suppliers to lower their production costs and bolster profit margins while also keeping prices low," says IBISWorld research analyst Sean Windle. Furthermore, rising import competition has spurred additional price competition in the market because US companies must compete with suppliers in China and other low-cost producing countries that can offer comparable goods at a fraction of the cost. Current major vendors include ArcelorMittal, Melrose Industries and WireCo WorldGroup.
Ontario Teachers' Pension Plan agrees to acquire Bridon Limited
PR Newswire - Mon Oct 13, 9:57AM CDT
The Ontario Teachers' Pension Plan (Teachers' today announced an agreement to acquire Bridon Limited (Bridon), a global leader in the manufacture of wire rope, from Melrose Industries PLC.
Nortek Announces Shares Successfully Tendered to Melrose Industries PLC and Subsequent Closing of Acquisition
Marketwired - Wed Aug 31, 6:30AM CDT
PROVIDENCE, RI--(Marketwired - Aug 31, 2016) - Nortek, Inc. (NASDAQ: NTK) ("Nortek" or the "Company"
, a global diversified industrial company with leading brands and innovative air management and technology-driven solutions for residential and commercial applications, today announced the successful completion of Melrose Industries PLC's ("Melrose" tender offer to purchase all outstanding shares of Nortek for $86.00 per share net, in cash and without interest. The tender offer expired at 2:00 a.m. (New York City time) on August 31, 2016. NTK: 85.94 (-0.05)
Update on Proposed Melrose Acquisition of Nortek
BusinessWire - Tue Aug 09, 5:33PM CDT
The Board of Directors of Melrose Industries PLC ("Melrose"
announced today that 1,741,612,236 New Melrose Shares have been admitted to listing on the premium listing segment of the Official List of the UK Listing Authority and have been admitted to trading, nil paid, on the London Stock Exchange's main market for listed securities at 8.00 a.m. London time today, August 9, 2016. NTK: 85.94 (-0.05)
Nortek Reports Second Quarter 2016 Financial Results
Marketwire Canada - Mon Aug 08, 8:00AM CDT
PROVIDENCE, RI--(Marketwired - Aug 8, 2016) - Nortek, Inc. (NASDAQ: NTK), a global diversified industrial company with leading brands and innovative air management and technology-driven solutions for residential and commercial applications, today announced financial results for the three-months ended July 2, 2016.
NTK: 85.94 (-0.05)
Honeywell Expects Acquisition Of Elster To Close In 2015
PR Newswire - Tue Dec 22, 5:30AM CST
Honeywell (NYSE: HON) today announced that all necessary regulatory approvals have been received for its acquisition of the Elster Division of Melrose Industries plc and it now anticipates to close the transaction on December 29, 2015. Elster is a leading provider of thermal gas solutions for commercial, industrial, and residential heating systems and gas, water, and electricity meters, including smart meters and software and data analytics solutions. The acquisition, which Honeywell announced on July 28, 2015, closed earlier than anticipated following approval by Melrose shareholders and required regulatory approvals, including those in the U.S., European Union, and China.
HON: 115.28 (+1.25)
Fitch: Honeywell's Acquisition of Elster an Efficient Use of Cash
BusinessWire - Tue Jul 28, 2:00PM CDT
Fitch Ratings view of Honeywell International Inc.'s (HON) credit profile is unchanged by the company's planned $5.1 billion acquisition of the Elster division of Melrose Industries plc. Fitch estimates the transaction will have a limited impact on the company's leverage including debt/EBITDA which could increase to approximately 1.5x on a pro forma basis compared to 1.3x at June 30, 2015.
HON: 115.28 (+1.25)
Honeywell To Acquire Elster, A Global Leader In Gas Heating, Controls, Metering, And Advanced Technologies
PR Newswire - Tue Jul 28, 1:04AM CDT
Honeywell (NYSE: HON) today announced that it has signed a definitive agreement to acquire the Elster Division of Melrose Industries plc, a leading provider of thermal gas solutions for commercial, industrial, and residential heating systems and gas, water, and electricity meters, including smart meters and software and data analytics solutions, for approximately $5.1 billion. Elster also manufactures flow computers and regulators for the gas industry. Elster consensus sales for 2015 are estimated to be $1.8 billion. The price translates to approximately 12.6 times Elster's estimated 2015 consensus earnings before interest, taxes, depreciation, and amortization (EBITDA), and the acquisition is anticipated to occur in the first quarter of 2016. The agreement is subject to customary closing conditions, including regulatory review and Melrose shareowner vote.
HON: 115.28 (+1.25)
Hot Wires: Mechanical Cable Procurement Category Market Research Report from IBISWorld has Been Updated
PRWeb - Fri Mar 27, 2:01AM CDT
The mechanical cable market has a buyer power score of 3.3 out of 5, indicating that buyers have a slight advantage over suppliers when negotiating supply agreements. Buyers primarily benefit from the favorable pricing environment in the market. Despite strong postrecession demand from construction and industrial industries, falling input costs and increasing import competition have brought mechanical cable prices down over the past three years. For instance, "recent declines in steel prices have enabled suppliers to lower their production costs and bolster profit margins while also keeping prices low," says IBISWorld research analyst Sean Windle. Furthermore, rising import competition has spurred additional price competition in the market because US companies must compete with suppliers in China and other low-cost producing countries that can offer comparable goods at a fraction of the cost. Current major vendors include ArcelorMittal, Melrose Industries and WireCo WorldGroup.
Ontario Teachers' Pension Plan agrees to acquire Bridon Limited
PR Newswire - Mon Oct 13, 9:57AM CDT
The Ontario Teachers' Pension Plan (Teachers'
today announced an agreement to acquire Bridon Limited (Bridon), a global leader in the manufacture of wire rope, from Melrose Industries PLC. 
