M&A
confidence high
sentiment positive
materiality 0.85
Matthews closes $232M sale of Automation Solutions; pro forma swings to $82.7M net income
MATTHEWS INTERNATIONAL CORP
- Cash consideration of $225.4M used entirely to repay debt, reducing long-term debt to $478.2M.
- Pre-tax gain on sale estimated at $159.0M ($111.5M after-tax).
- Pro forma net income attributable to Matthews of $82.7M vs. historical net loss of $24.5M.
- Pro forma diluted EPS of $2.62 vs. historical diluted loss per share of $0.79.
- Assets and liabilities of the Transferred Entity eliminated; goodwill reduced by $57.5M.