Narrow-Moat Eaton Announces Intent to Spin Off Lighting and Sell Automotive Fluid Conveyance
Narrow-moat Eaton announced its intent to spin off its lighting business and sell off its automotive fluid conveyance business at its March 1 investor day. Management expects both deals will close by the end of 2019. Of the two deals, Lighting constitutes a significantly greater portion of Eaton’s business. At $1.7 billion of sales as of end of year 2018, Lighting (which is reported in Eaton’s Electrical Products segment) constitutes about 8% of sales according to our estimates. We await further...
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