Edition:
United States

Colfax To Acquire Djo Global For $3.15 Billion In Cash


Monday, 19 Nov 2018 06:36am EST 

Colfax Corp ::COLFAX TO ACQUIRE DJO GLOBAL FOR $3.15 BILLION IN CASH.COLFAX CORP - TRANSACTION EXPECTED TO DELIVER ADJUSTED EPS ACCRETION IN FIRST FULL YEAR AFTER CLOSING.COLFAX CORP - EXPECTS TO DE-LEVER, EVALUATE STRATEGIC OPTIONS FOR AIR AND GAS HANDLING BUSINESS.COLFAX CORP - EXPECTS TO REALIZE FUTURE TAX BENEFITS FROM DJO'S APPROXIMATELY $800 MILLION OF NET OPERATING LOSS CARRYFORWARDS.COLFAX CORP - EXPECTS TO FINANCE TRANSACTION WITH APPROXIMATELY $100 MILLION OF CASH FROM ITS BALANCE SHEET, PROCEEDS FROM CREDIT FACILITIES.COLFAX CORP - UPON CLOSING OF DEAL, DJO GLOBAL WILL OPERATE AS NEW SEGMENT WITHIN COLFAX AND BE LED BY SHIRLEY.COLFAX - EXPECTS TO FINANCE DEAL ALSO WITH CONTEMPLATED DEBT OFFERING, $500 - $700 MILLION FROM CONTEMPLATED OFFERING OF EQUITY/EQUITY-LINKED SECURITIES.COLFAX - SEES TO MAINTAIN EXISTING DEBT RATINGS,TO PRIORITIZE DELEVERAGING TO REDUCE NET LEVERAGE RATIO TO MID-3X RANGE BY END OF CALENDAR 2019.COLFAX CORP - DOES NOT INTEND TO UNDERTAKE ANY MATERIAL ACQUISITIONS OR SHARE REPURCHASES UNTIL ITS LEVERAGE METRICS RETURN TO TARGETED LEVELS.COLFAX CORP - EVALUATING STRATEGIC OPTIONS FOR ITS AIR AND GAS HANDLING BUSINESS.COLFAX CORP - ENTERED AGREEMENT TO BUY DJO GLOBAL INC FROM PRIVATE EQUITY FUNDS MANAGED BY BLACKSTONE FOR $3.15 BILLION IN CASH.