Assa Abloy Divestment Increases Chance of HHI Deal -- Market Talk

Dow Jones

2022/12/02

1427 GMT - Assa Abloy's deal to sell its Emtek and U.S.-Canada Smart Residential businesses to satisfy U.S. Justice Department competition concerns around its HHI acquisition slightly increases its chance of successfully defending against the DOJ, Citi analysts say in a note. The sale to a trade buyer--Fortune Brands Home & Security--is arguably better than to a private equity buyer, as they know the residential construction market and may be better-placed to develop the asset, Citi says. "However, we would not expect the DOJ to necessarily drop their opposition to the deal on this news alone." The $800 million sale price looks slightly underwhelming, though understandable in the context of Assa being a forced seller, Citi adds. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

December 02, 2022 09:27 ET (14:27 GMT)

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The sale to a trade buyer--Fortune Brands Home &amp; Security--is arguably better than to a private equity buyer, as they know the residential construction market and may be better-placed to develop the asset, Citi says. \"However, we would not expect the DOJ to necessarily drop their opposition to the deal on this news alone.\" The $800 million sale price looks slightly underwhelming, though understandable in the context of Assa being a forced seller, Citi adds. 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The sale to a trade buyer--Fortune Brands Home &amp; Security--is arguably better than to a private equity buyer, as they know the residential construction market and may be better-placed to develop the asset, Citi says. \"However, we would not expect the DOJ to necessarily drop their opposition to the deal on this news alone.\" The $800 million sale price looks slightly underwhelming, though understandable in the context of Assa being a forced seller, Citi adds. (dominic.chopping@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 02, 2022 09:27 ET (14:27 GMT)\n</p>\n<p>\n  Copyright (c) 2022 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4018","symbol_name":"居家用品","start_time":0,"source_url":"http://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2288595942","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2288595942","pubTimestamp":1669991220,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1427 GMT - Assa Abloy's deal to sell its Emtek and U.S.-Canada Smart Residential businesses to satisfy U.S. Justice Department competition concerns around its HHI acquisition slightly increases its chance of successfully defending against the DOJ, Citi analysts say in a note. The sale to a trade buyer--Fortune Brands Home & Security--is arguably better than to a private equity buyer, as they know the residential construction market and may be better-placed to develop the asset, Citi says. \"Howev","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4018":"居家用品","SPB":"Spectrum Brands Holdings","BK4585":"ETF&股票定投概念","BK4086":"建筑产品","LU2065732104.USD":"ALLSPRING (LUX) WF GLOBAL SMALL CAP EQUITY \"I\" (USD) ACC"},"translate_title":"Assa Abloy撤资增加HHI交易的机会——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FBHS":0.9,"SPB":0.9},"content_text":"1427 GMT - Assa Abloy's deal to sell its Emtek and U.S.-Canada Smart Residential businesses to satisfy U.S. Justice Department competition concerns around its HHI acquisition slightly increases its chance of successfully defending against the DOJ, Citi analysts say in a note. The sale to a trade buyer--Fortune Brands Home & Security--is arguably better than to a private equity buyer, as they know the residential construction market and may be better-placed to develop the asset, Citi says. \"However, we would not expect the DOJ to necessarily drop their opposition to the deal on this news alone.\" The $800 million sale price looks slightly underwhelming, though understandable in the context of Assa being a forced seller, Citi adds. (dominic.chopping@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 02, 2022 09:27 ET (14:27 GMT)\n\n\n  Copyright (c) 2022 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}