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Charlotte's Columbus McKinnon makes $2.7B deal, shares plummet - Business North Carolina

Summary by Business North Carolina
Charlotte-based Columbus McKinnon will acquire Richardson, Texas-based Kito Crosby Limited from funds managed by global investment firm KKR in a transaction valued at $2.7 billion. Columbus McKinnon expects the deal to close this calendar year, pending regulatory approval. Shares of Columbus McKinnon declined about 40% in Tuesday morning trading after news of the deal and the company reported quarterly earnings of 56 cents per share, lower than …
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Charlotte's Columbus McKinnon makes $2.7B deal, shares plummet - Business North Carolina

Charlotte-based Columbus McKinnon will acquire Richardson, Texas-based Kito Crosby Limited from funds managed by global investment firm KKR in a transaction valued at $2.7 billion. Columbus McKinnon expects the deal to close this calendar year, pending regulatory approval. Shares of Columbus McKinnon declined about 40% in Tuesday morning trading after news of the deal and the company reported quarterly earnings of 56 cents per share, lower than …

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Business North Carolina broke the news in on Tuesday, February 11, 2025.
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