Innovate Corp

Innovate Corp(VATE)资讯与事件

$7.590

-0.147 (-1.94%)收盘时

VATE 资讯

VATE 事件

8/10 11:00

Innovate Trading Halted, Volatility Trading Pause

Innovate trading halted, volatility trading pause

8/10 09:00

INNOVATE Corp. Files $100M Mixed Securities Shelf

INNOVATE Corp. files $100M mixed securities shelf

8/10 08:30

IES Holdings to Acquire DBM Global for $650M

IES Holdings (IESC) announced that it has entered into a definitive agreement to acquire DBM Global from INNOVATE (VATE). The consideration for DBM Global, including minority interests, is approximately $650M, comprised of cash and shares of IES common stock. IES expects to fund the cash portion of the consideration through a combination of cash on hand and borrowings under an expanded credit facility being arranged by Wells Fargo. DBM Global generated revenue of approximately $1.3B for the twelve months ended March 31. Pursuant to the definitive agreement, IES will first acquire INNOVATE's approximately 91.2% interest in DBM Global. Immediately following that closing, IES will acquire the remaining minority interests in DBM Global via a short form merger. Total consideration payable is approximately $685M, comprised of approximately $545M in cash and approximately $140M in shares of IES common stock, with the cash consideration including a $35M payment to INNOVATE in respect of the estimated cost to INNOVATE to participate in a joint election under Section 338 of the Internal Revenue Code.

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