secwatch.observer — SEC 8-K summary
======================================

Issuer:     STERIS plc (STE)
CIK:        0001757898
Form:       8-K
Filed at:   2024-04-11T23:59:59+00:00
Accession:  0001193125-24-092481
Event type: m_and_a
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

STERIS to sell Dental segment to Peak Rock Capital for $787.5M cash, plus earnout
--------------------------------------------------------------------------------

- Purchase price $787.5M cash (subject to adjustments) plus up to $12.5M earnout on FY2025 revenue targets.
- Dental segment reported $407M revenue and $86M segment operating income in trailing 12 months ended Dec 31, 2023.
- Transaction expected to close in Q1 FY2025; proceeds primarily to repay debt, with estimated interest expense benefit of ~$0.35/sh.
- Segment to be reported as discontinued operations for Q4 and full year FY2024; FY2025 outlook to be provided with Q4 results.
- Closing subject to Hart-Scott-Rodino approval and customary conditions; termination fee of $35M payable by buyer in certain scenarios.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1757898/000119312524092481/0001193125-24-092481-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1757898/000119312524092481/d752903d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-092481

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer