SPX Corp. (SPXC) Divests Legacy Asbestos Liabilities
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 9/4/2026
- Wall Street ends sharply higher as Waller remarks ease rate hike fears
- Fed’s Waller open to September rate hold - if disinflation holds up
- Broadcom raises AI chip forecast as Big Tech keeps writing bigger checks
- Nvidia to acquire AI platform Hugging Face in landmark $12.9B deal
- Tesla to unveil Cybercab Texas today, details are few
- After-Hours Movers: LULU, IOT, PATH, DOCU, ASAN, GWRE, ZS, PL, SWBI, OXM
- After-Hours Movers: AVGO, SNOW, HPE, NTAP, NTSK, CHPT, FIVE, TLYS, PVH, RARE
- After-Hours Movers: DELL, PANW, GTLB, CRDO, MDB, HPE, SMCI
- After-Hours Movers: WDAY, ADSK, S, RBRK, MRVL, ULTA, GAP, AFRM
- After-Hours Movers: NVDA, CRM, SNPS, CRWD, OKTA, NTNX
SPX Technologies Divests Legacy Asbestos Liabilities
November 1, 2022 4:12 PM EDTCHARLOTTE, N.C., Nov. 01, 2022 (GLOBE NEWSWIRE) -- SPX Technologies, Inc. (SPX Technologies, or SPX) (NYSE: SPXC)Â today announced that it has divested three wholly-owned subsidiaries (the subsidiaries) that hold asbestos liabilities and certain assets, including related insurance assets, to Canvas Holdco LLC (Canvas), an entity formed by a joint venture of Global Risk Capital LLC and an affiliate of Premia Holdings Ltd. In connection with this transaction, SPX contributed $138.8 million in cash to the subsidiaries, financed with cash on hand; while Canvas made a capital contribution to the subsidiaries of $8 million. SPX anticipates that the... More
