Praxair, Inc. (PX) Agrees to Acquire NuCO2 for $1.1B
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Price: $116.20 +1.93%
Overall Analyst Rating:
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Dividend Yield: 2.1%
Revenue Growth %: +1.8%
Overall Analyst Rating:
NEUTRAL (
Up)Dividend Yield: 2.1%
Revenue Growth %: +1.8%
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Praxair, Inc. (NYSE: PX) entered into an agreement to acquire NuCO2 INC. from Aurora Capital Group, a Los Angeles, California based private equity firm, for $1.1 billion in cash. The transaction is subject to customary conditions to closing, including regulatory approval, and is expected to close by the end of the first quarter of 2013.
NuCO2 is the leading national provider of beverage carbonation solutions in the United States to the restaurant and hospitality industries with 162,000 customer locations and 900 employees. The business is expected to generate full year sales in 2013 of about $250 million and EBITDA of about $115 million. The acquisition is expected to be neutral to slightly accretive to Praxair’s 2013 earnings per share.
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NuCO2 is the leading national provider of beverage carbonation solutions in the United States to the restaurant and hospitality industries with 162,000 customer locations and 900 employees. The business is expected to generate full year sales in 2013 of about $250 million and EBITDA of about $115 million. The acquisition is expected to be neutral to slightly accretive to Praxair’s 2013 earnings per share.
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