Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, April 29, 2022

Article Excerpt

GENERAC HOLDINGS INC., $219.38, symbol GNRC on New York, designs and manufactures a wide range of generators and other engine-powered products for the residential, light commercial, industrial, and construction markets. Its products are fuelled by natural gas, liquid propane and diesel. Generac also pioneered the residential power washer category, putting the power to clean into the hands of homeowners. Today, Generac features a full line of industry-leading power washers suitable for virtually any application, including commercial and industrial environments. On December 1, 2021, the company closed its acquisition of Toronto-based Ecobee for $770 million. The transaction included $200 million in cash, $450 million in Generac stock, and as much as $120 million in performance bonuses from the closing date of the deal through June 2023. The performance bonuses will also be paid in Generac stock. Ecobee was founded in 2007. It specializes in smart home solutions. The company’s products include its SmartThermostat and SmartCamera, both equipped with voice control. The acquisition strengthens Generac’s intelligent…