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Eaton (NYSE:ETN) agrees to sell its Hydraulics business to Danish industrial company Danfoss for $3.3B in cash.
The business, which accounted for 86% of the company's Hydraulics segment revenue in 2019, amassed sales of $2.2B in 2019.
Eaton says the sale is part of its transformation "into a higher growth company with better earnings consistency."
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