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Johnson Controls CEO George Oliver will retire from the top job at the industrial conglomerate, the company announced Wednesday morning, after "constructive dialogue" with Elliott Management, which amassed a stake in the company earlier this year. "I believe that now is the right time to begin the process of identifying the next leader of the new Johnson Controls," Oliver said in a release. Johnson Controls' shares surged more than 9% on the news in premarket trading Wednesday. The company also announced, with Elliott's blessing, that it would appoint former Xylem CEO Patrick Decker to its board effective immediately. Elliott's stake in the HVAC giant was worth more than $1 billion earlier this year, according to a person familiar with the matter.
Persons: George Oliver, Johnson, Oliver, Patrick Decker, George, Elliott, Marc Steinberg, Steinberg, Elliott's Organizations: Johnson, Elliott Management, Johnson Controls, Bosch
Xylem CEO Patrick Decker sits down with Jim Cramer
  + stars: | 2023-08-07 | by ( Jim Cramer | ) www.cnbc.com   time to read: 1 min
Xylem CEO Patrick Decker sits down with Jim CramerXylem President and CEO Patrick Decker sits down with 'Mad Money' host Jim Cramer to talk the state of the water supply industry and the future of water purification.
Persons: Patrick Decker, Jim Cramer
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailXylem's acquisition of Evoqua would give us a 'tremendous opportunity' to grow abroad: Evoqua CEOXylem's Patrick Decker and Evoqua's Ron Keating, both CEOs of the water technology firms, discuss the $7.5 billion deal.
Evoqua shareholders will receive 0.480 Xylem shares, or about $52.89, for each one they own. That's a 29% premium to where Evoqua shares closed on Friday. Evoqua shares jumped 14% on the news, but Xylem shareholders are balking at what they see as a pricey deal. XYL 1Y mountain Xylem shares sell off in the wake of Evoqua deal That's one of problems Raymond James analyst Pavel Molchanov raised. Trading in Evoqua shares doesn't appear to indicate expectations of a competing bid surfacing, and some analysts have said they didn't expect one,.
Jan 23 (Reuters) - Xylem Inc (XYL.N) said on Monday it would acquire Evoqua Water Technologies Corp (AQUA.N) in an all-stock deal valued at $6.42 billion, boosting its wastewater treatment solutions and providing it access to several industrial markets. Evoqua stockholders will receive 0.480 share of water technology company Xylem for each share held, representing a premium of about 29% based on the shares last close. Xylem, which manufactures equipment used in water and wastewater applications, in 2016 acquired Sensus USA Inc, a provider of advanced metering technologies to utilities. Pittsburgh, Pennsylvania-based Evoqua operates in more than 150 locations across nine countries and provides wastewater treatment solutions to industrial, municipal and recreational customers. After the deal closes, the combined company will be led by Xylem’s president and chief executive officer, Patrick Decker.
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