On May 21, 2012, Eaton Corp., a diversified industrial product manufacturer, announced that it had reached a definitive agreement with Cooper Industries, the supplier of electrical equipment, to spend 11.8 billion U.S. dollars to complete the acquisition of the latter.
Eaton will acquire Cooper Industries shares for $39.15 in cash and 0.77479 shares in Eaton. According to the closing prices of the two companies on the most recent trading day, the total transaction value was 11.8 billion U.S. dollars, and the premium was about 29%. In the morning session, Cooper Industries Group's share price rose 25% to $69.77, while Eaton's share price fell 0.8% to $42.08.
The two companies expect to complete the acquisition in the second half of this year. After the merger, they will be integrated and registered as a new entity company (EatonGlobalCorporationPlc) in Ireland (the current location of Cooper), or in "New Eaton". Based on the full name derived. The current chairman and CEO of Eaton, Alexander M. Cutler, will continue to lead the new company.
Catherine Avery, CEO of Eaton’s shareholder CAIMLLC, said that after the completion of the merger, Eaton and Cooper will be able to enhance geographic coverage of their operations and increase their capacity in the power management system and electrical product business. Eaton expects that the merger will save 535 million U.S. dollars annually in 2016, and earnings per share will increase by 35 cents in 2014, and by 2015 it will increase to 45 cents.
Founded in 1833 as a supplier of electrical equipment, Cooper Industries Group Co., Ltd. covers product lines for electrical protection, power transmission and distribution, lighting and wiring equipment components.
Eaton was founded in 1911 and has become a global power management company. The company's electrical business unit leads the world in power distribution, power quality, control and automation, power monitoring, and energy management products and services. Eaton is positioned to meet the challenges of the most critical power management issues in many markets, including electrical, aerospace, hydraulics, and vehicle manufacturing.
Electrofusion welding is the name given to resistive implant welding of thermoplastic pipes. It is one of two main techniques used for the joining of polyethylene gas and water pipes. Electrofusion welding employs fittings that are placed around the joint to be welded. Metal coils are implanted into the fittings, and electric current is run through the coils to generate heat and melt part of the pipes, forming a joint upon solidification. There are two possible fittings used in electro fusion welding: couplers and tapping tees (electrofusion saddles). Electrofusion Machines/Electrofusion Welders are used for electrofusion fittings welding. Electrofusion Fittings are a heat treatment method compared to butt fusion methods and are used to generate heat. Electrofusion welding is a type of pipe welding and polyethylene fittings, in which there are special connections that have electrical resistance wire to create welding melting temperatures. The electric current is transmitted through the electrofusion welding eequipment and through the control box to the two ends of the connection. Yuda offers a fulll range of EF315 HDPE Electrofusion Welders, EF500 poly pipe electrofusion welding machine, EF630 HDPE Fitting Electrofusion Equipments and EF800 Electrofusion hdpe fittings machines
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