Evoqua files for IPO as Honeywell weighs takeover

Evoqua has filed for an initial public offering (IPO) and is simultaneously in talks over the sale of the company, reports MarketWatch.

Evoqua has listed for an IPO worth up to $100 million

Evoqua has listed for an IPO worth up to $100 million

In May, Evoqua revealed that it had appointed advisors to help steer its strategy in the direction either of an IPO or a sale.

The dual-track process took a step forward on Tuesday 3 October when Evoqua filed with the US Securities and Exchange Commission for an IPO of $100 million.

Honeywell emerged as the frontrunner among bidders hoping to acquire the company, which is reportedly worth $3 billion, two days later.

A decision by Evoqua on which direction it will take is expected this month.

Evoqua generated $1.2 billion revenue in the year ending 30 June 2017.

Credit Suisse and JP Morgan are joint bookrunners on the IPO deal.


Tags




Click a keyword to see more stories on that topic, view related news, or find more related items.

© Faversham House Group Ltd 2017. Water. desalination + reuse news articles may be copied or forwarded for individual use only. No other reproduction or distribution is permitted without prior written consent.