Halliburton may be among suitors for Dover’s lift business, RBC says

|About: Dover Corp (DOV)|By:, SA News Editor

Dover (DOV +1.7%) is 70% likely to divest all or part of its energy segment in the next 12 months for ~$4B, or 11x normalized EBITDA in a full sale, with Halliburton (HAL +0.3%) topping the short list of potential suitors for DOV’s artificial lift business, RBC analysts say.

RBC notes that DOV's energy segment comprised 18% of the company's estimated 2017 revenue; the firm expects DOV to keep its oil-related business in fluids, which accounted for ~6% of 2017 estimated revenues.

Source: Bloomberg First Word