Oct. 7, 2014, 1:33 PM
- The trustee of Hubbell's ((HUB.B +2.5%), (HUB.A +5.9%)) controlling family trusts has hired Credit Suisse to evaluate options for it shares, reports Reuters. The move - still in the early stages - follows pressure from another large owner of Hubbell, according to sources.
- The company had been thought of as a potential takeover target following a number of deals involving electrical equipment makers in 2012.
- The Class A shares have 20x the voting rights of the Class B, and almost half the Class A shares are owned by the Harvey Hubbell and Louis Roche trusts. Bessemer Trust was appointed in June as the trustee for the two Hubbell family trusts.
May 21, 2012, 10:32 AMEaton (ETN +1%) is paying about 14X EBITDA for Cooper (CBE +26%), Bloomberg calculates, in a deal that Eaton shareholder CAIM calls "pretty amazing," as "they're going to dominate that electrical power equipment segment," especially when the economy improves. The purchase is also sending shares of Hubbell (HUB.A) +6.3% and Accuity (AYI +5.4%). | May 21, 2012, 10:32 AM | Comment!
HUB.A vs. ETF Alternatives
Hubbell Inc is engaged in the design, manufacture and sale of electrical and electronic products for non-residential and residential construction, industrial and utility applications. The Company's segments consist of the Electrical & the Power segment.
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