Cummins completes $3.7B acquisition of Meritor, expects $130M annual synergies

CUMMINS INC

Completed acquisition of Meritor, Inc. on August 3, 2022, for total transaction value of approx. $3.7 billion, including assumed debt net of cash.
Acquisition expected to be immediately accretive to adjusted EPS; pre-tax run-rate synergies of ~$130 million projected by year three.
Financed with cash on balance sheet, commercial paper, and debt; company committed to maintaining strong credit ratings.
Combination positions Cummins as leading provider of integrated powertrain solutions, accelerating investment in electrification.

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