Emerson Electric Selling InSinkErator Business to Whirlpool for $3 Billion
August 08 2022 - 6:49AM
Dow Jones News
By Chris Wack
Emerson Electric Co. said Monday it is selling its InSinkErator
business to Whirlpool Corp. for $3 billion.
InSinkErator makes food waste disposers and instant hot water
dispensers for home and commercial use. Its trailing 12-month
revenue as of March 31 was $595 million, with pretax earnings of
$148 million, Emerson said.
Whirlpool said it expects the acquisition to be immediately
accretive to its earnings.
The transaction is expected to close in Emerson's 2023 fiscal
year.
Whirlpool said it plans to initially fund the acquisition
through available liquidity, with new debt put in place at a later
date.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
August 08, 2022 07:34 ET (11:34 GMT)
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