Eaton gains $147 million on sale of 1.625 million shares of stock.
EATON CORP. said it has sold 1.625 million shares of its common stock to J.P. Morgan&Co. at $92 per share, giving it $147 million. The money will be used to pay down a portion of short-term debt, most of which was incurred by the acquisition of Aeroquip-Vickers for $1.7 billion (DAILY, April 9)...
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