• (PLX AI) – Assa Abloy shares should rise about 2-3% at the open after the company announced yesterday after hours that it bought the HHI division of Spectrum Brands for $4.3 billion, analysts said.
  • • The acquisition is a major strategic step to grow in the home locks sector in North America, and it means that operations in the Opening Solutions division in the region will almost double, Kepler Cheuvreux said
  • • Kepler rates Assa Abloy hold, with a price target of SEK 280
  • • This is a very sizable and partly surprising acquisition, but it does complement Assa Abloys US business very well, Carnegie analysts said
  • • Combining Assa Abloy’s technological expertise within residential digital door locks with HHI's well established brand names and large installed base in North America should lead to good opportunities to accelerate the transition towards electronic door locks in North America, the analysts said
  • • The acquisition is a major addition to Assa Abloy's US exposure and, at first glance, the deal metrics look appealing, SEB said

Quelle: PLX AI