|Bid||0.00 x 1200|
|Ask||30.40 x 900|
|Day's range||25.70 - 26.34|
|52-week range||15.21 - 34.98|
|Beta (5Y monthly)||1.42|
|PE ratio (TTM)||N/A|
|Earnings date||29 Oct 2020|
|Forward dividend & yield||1.00 (3.81%)|
|Ex-dividend date||10 Aug 2020|
|1y target est||31.07|
Billionaire David Rubenstein, co-founder of the Carlyle Group, one of the largest and most successful private equity firms with $221 billion in assets under management, knows a thing or two about success.
(Bloomberg) -- Carlyle Group Inc. is nearing an agreement to acquire Siemens AG’s Flender mechanical drive unit for about 2 billion euros ($2.4 billion), according to people familiar with the matter.The U.S. buyout firm and the German engineering giant are finalizing terms of the deal, which could be announced as early as this week, the people said, who asked not to be identified because discussions are private.Carlyle outbid Canada’s Brookfield Asset Management Inc. in the end, the people said. Talks could still be delayed or fall apart. Representatives for Siemens, Carlyle and Brookfield declined to comment.Siemens had been exploring a sale as well as a spinoff of the Flender business, which it bought from Citigroup Inc. in 2005. The unit makes gears and transmissions used in everything from cement production and shipbuilding to beermaking and offshore oil extraction. The company’s flagship products are 150-ton transmissions that connect wind turbine blades to generators.A disposal of Bocholt, Germany-based Flender would mark one of the final acts by Siemens’s Chief Executive Officer Joe Kaeser to turn the industrial manufacturing giant into a more manageable entity for his successor Roland Busch. Last month, the company listed Siemens Energy AG, whose technology is behind roughly one-sixth of the world’s electricity.Siemens declined as much as 0.9% in early Frankfurt trading on Monday, valuing the company at about 93 billion euros.Kaeser had said he’d be “happy to listen” to any options for the Flender business beyond the initially planned spinoff, in an interview with Bloomberg TV in August.The European industrials sector has been a bright spot for dealmakers in a drab year for mergers and acquisitions. There have been $124 billion worth of European transactions involving industrials companies so far in 2020, according to data compiled by Bloomberg. That’s 3% up on the same period in 2019.(Updates with Siemens shares in sixth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Siemens and Carlyle are finalizing terms of the deal that could be announced as early as this week, the report said. Last week Siemens had asked Triton, Carlyle, CVC and Brookfield to submit final offers next week for the business, which has earnings before interest, tax, depreciation and amortization of just above 200 million euros and could be valued at 8-9 times that, according to sources.