DSGR to Acquire American Fasteners Corp., Expanding Industrial Distribution
DSGR sits 82% above its 52-week low of $19.02.
Summary
Distribution Solutions Group announced the acquisition of American Fasteners Corp., a bolt-on deal that expands its industrial distribution footprint. The company is trading near its 52-week high and is in the midst of a $35.00 per share going-private merger with a CEO-led buyer group. This acquisition adds scale and product breadth, though financial terms were not disclosed. The deal is likely to be viewed positively as it strengthens the company's market position ahead of the pending privatization. Watch for further details on purchase price and integration plans in upcoming filings.
At the time of this announcement, DSGR was trading at $34.70 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $1.6B. The 52-week trading range was $19.02 to $35.06. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.