Barnes Group (NYSE:B) is a somewhat under-the-radar industrial company that blew away the market on Friday with its announcement that it is exiting most of its distribution business through a transaction with MSC Industrial (NYSE:MSM) in which it will receive $550mm for its Barnes Distribution North America (BDNA) unit. Fellow SA contributor Stephen Simpson shared a great perspective from the MSM vantage, and, given the big jump on Friday in B, I wanted to evaluate the transaction and see if this clear catalyst could lead to a bigger bounce from B, which rallied 14.8% in response, posting a 52-week high. The rich sale price (29% of the enterprise value for 21% of the operating profits)...
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