Cactus Announces Agreement To Acquire Flexsteel

Cactus Inc:

* CACTUS ANNOUNCES AGREEMENT TO ACQUIRE FLEXSTEEL

* CACTUS INC - TRANSACTION IS EXPECTED TO BE ACCRETIVE TO FIRST YEAR FINANCIAL METRICS

* CACTUS INC - TRANSACTION IS EXPECTED TO BE ACCRETIVE TO FIRST YEAR FINANCIAL METRICS

* CACTUS INC - PROPOSED DEAL FOR UPFRONT CONSIDERATION OF APPROXIMATELY $621 MILLION

* CACTUS INC - INTENDS TO FINANCE ACQUISITION OF FLEXSTEEL THROUGH A MIX OF CASH, DEBT AND/OR EQUITY

* CACTUS INC - POTENTIAL FUTURE EARN-OUT PAYMENT OF UP TO $75 MILLION TO BE PAID IN MID-2024 IF CERTAIN TARGETS MET BY FLEXSTEEL

* CACTUS INC - FLEXSTEEL'S CURRENT PRESIDENT AND CEO, THIRUCHERAI SATHYANARAYANAN, WILL CONTINUE TO LEAD BUSINESS Source text for Eikon: Further company coverage: