Daikin Industries to Acquire Goodman Global
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Osaka, Japan based Daikin Industries has announced that it will purchase Houston, Texas based Goodman Global for $3.7 billion. Daikin, the world's largest maker of air conditioners, plans to acquire Goodman to help it gain a foothold in North America.
The company will buy the entirety of Goodman's stock, paying for the transaction through bonds and loans and not through the selling of its own stock. The deal will see Daikin's points of distribution rise over 900.
Goodman Global will continue to operate as a separate unit and will keep all of its current management. The acquisition has yet to be approved by regulators, but is scheduled to be completed by December 31st of this year.
