WASHINGTON (dpa-AFX) - Power management company Eaton (ETN) agreed to acquire Cobham Mission Systems or 'CMS', a manufacturer of air-to-air refueling systems, environmental systems, and actuation primarily for defense markets, for $2.83 billion. The deal includes $130 million in tax benefits.
The acquisition is expected to close in the second half of 2021.
Eaton's 2019 revenues were $21.4 billion, and it sells products to customers in more than 175 countries. We have approximately 92,000 employees.
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