AC Maker Daikin Spends $3.8B To Snap Up Goodman Global

Law360, New York (August 28, 2012, 7:21 PM EDT) -- Japanese air conditioner manufacturer Daikin Industries Ltd. is poised to buy U.S. rival Goodman Global Inc. for about 300 billion yen ($3.82 billion) from private equity firm Hellman & Friedman LLC, Japanese media reported Tuesday.

Daikin, the second-largest maker of air conditioners in the world, will buy a majority of Goodman's outstanding shares in a deal expected to be announced Wednesday, according to the Nikkei Business Daily.

The Japanese company will finance the transaction with low-interest loans from the Japan Bank of International Cooperation and other...
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