secwatch.observer — SEC 8-K summary
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Issuer:     ITRON, INC. (ITRI)
CIK:        0000780571
Form:       8-K
Filed at:   2021-11-03T23:59:59+00:00
Accession:  0001157523-21-001317
Event type: m_and_a
Sentiment:  negative
Materiality: 0.80
Item codes: 2.05, 2.06, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Itron sells gas regulator & European C&I gas metering ops to Dresser for $75M
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- Sale price $75M; pre-tax loss of $30-40M expected upon close in H1 2022 due to $58-62M FX translation losses.
- Restructuring plan approved with $65-75M pre-tax charges ($60-65M cash); $15-20M annual savings targeted by end of 2024.
- Cash proceeds estimated at $62-63M; net assets of businesses $35-40M.
- Itron employees supporting global gas regulator and European C&I gas meters will transfer to Dresser.
- Divestiture includes Itron GmbH (Germany), Argenteuil facility (France), and certain North American contract manufacturing assets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/780571/000115752321001317/0001157523-21-001317-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/780571/000115752321001317/a52520572.htm
  HTML page:      https://secwatch.observer/filing/0001157523-21-001317

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