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OFFON

EATON CORPORATION PLC

(ETN)
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Eaton : obtains all regulatory approvals to close the sale of its Hydraulics business to Danfoss; Sale expected to close August 2, 2021

07/22/2021 | 11:28pm EDT

July 21, 2021

Sale expected to close August 2, 2021

DUBLIN, Ireland … Power management company Eaton (NYSE:ETN) is pleased to announce that the U.S. District Court for the District of Columbia has approved an order paving the way for the sale of the company's Hydraulics business to Danfoss A/S. The company now has all the regulatory approvals it needs to close the transaction. Eaton currently expects the sale to close August 2, 2021.

Eaton's mission is to improve the quality of life and the environment through the use of power management technologies and services. We provide sustainable solutions that help our customers effectively manage electrical, hydraulic, and mechanical power - more safely, more efficiently, and more reliably. Eaton's 2020 revenues were $17.9 billion, and we sell products to customers in more than 175 countries. We have approximately 96,000 employees. For more information, visit Eaton.com.

This news release contains forward-looking statements about the expected closing of the sale of our Hydraulics business. These statements should be used with caution and are subject to various risks and uncertainties, some of which are outside of the company's control. Factors that could cause these statements to become untrue include possible delay or difficulty closing the transaction. We do not assume any obligation to update these forward-looking statements.

Contact: Jennifer Tolhurst, Media Relations, +1 (440) 523-4006

Disclaimer

Eaton Corporation plc published this content on 21 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 July 2021 03:27:02 UTC.


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Sales 2021 20 161 M - -
Net income 2021 2 121 M - -
Net Debt 2021 9 336 M - -
P/E ratio 2021 29,1x
Yield 2021 1,98%
Capitalization 61 871 M 61 871 M -
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Number of Analysts 24
Last Close Price 155,15 $
Average target price 175,35 $
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Craig Arnold Chairman & Chief Executive Officer
Thomas Bernard Okray Chief Financial Officer & Executive Vice President
Raja Ramana Macha Chief Technology Officer & Executive VP
Katrina R. Redmond Chief Information Officer & Senior Vice President
Joe Rodgers Senior Vice President-Ethics & Compliance
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