Emerson Electric Co. said Monday it agreed to sell its InSinkErator garbage disposal business to Whirlpool Corp. for $3 billion. The deal values the business at less than six times its trailing 12-month revenue of $595 million, or 18.1 times earnings before interest, taxes, depreciation and amortization (Ebitda). Whirlpool said the transaction will add about $1.25 in earnings per share to its bottom line in fiscal 2023. Emerson originally acquired InSinkErator, the world’s largest manufacturer of food waste disposers and instant hot water dispensers for home and commercial use, in 1968. Shares of Emerson Electric rose 0.3%. Whirlpool shares fell 0.3% on Friday.
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