(RTTNews) - Carlisle Companies Inc. (CSL) said it has submitted an irrevocable and binding offer as well as entered into exclusive talks to acquire all the shares of Draka Fileca SAS from Prysmian SpA.
Carlisle noted that the acquisition of Draka Fileca is consistent with its Vision 2025 strategy to build scale, with synergistic acquisitions to drive to $15 of earnings per share. Draka Fileca would become part of the Carlisle Interconnect Technologies or CIT operating segment.
The acquisition is subject to the required information and consultation processes with French employee representative bodies as well as other regulatory approvals. The company expects the closing of the transaction to occur no later than during the first quarter of 2020.
Based in Sainte-Genevieve, France, Draka Fileca is a provider of highly engineered interconnect solutions for harsh environments, providing high-end cable solutions to important European Aerospace, Space and Defense customers.
Chris Koch, President and Chief Executive Officer of Carlisle Companies said, "The acquisition of Draka Fileca fits our well-established Aerospace strategy and expands key product offerings and geographic presence in Europe for our Interconnect Technologies segment."
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