Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, August 6, 2021

Article Excerpt

API GROUP CORP., $22.47, symbol APG on New York, provides safety, specialty, and industrial services to companies across North America and Europe. It provides these services from more than 200 locations worldwide. APi Group has a wide range of offerings: commercial design, installation and servicing of fire protection and sprinkler systems; underground electric, gas, water, sewer, and telecom infrastructure; and oil/gas pipelines. On July 27, 2021, Carrier Global Corporation (symbol CARR on New York) announced that it had agreed to sell its Chubb Fire & Security business to APi Group. The purchase price is $3.1 billion. Based in the U.K., Chubb has more than 13,000 employees worldwide. This safety and security business makes products such as burglar alarms and fire extinguishers and has a sales and service network with operations in 17 countries. It serves more than 1.5 million customer sites, including in Europe, Asia, and Canada. Chubb traces its roots back to around 1818, when brothers Charles and Jeremiah Chubb invented the…

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