Masco Corp. To Sell Masco Cabinetry To ACProducts - Quick Facts

(RTTNews) - Masco Corp. (MAS) has entered into an agreement to sell Masco Cabinetry to ACProducts, Inc., owned by American Industrial Partners, for $1.0 billion, consisting of $850 million in cash and preferred stock issued by a holding company of the buyer with a liquidation preference of $150 million. Masco Cabinetry will be accounted for as discontinued operations for the fourth quarter.

Masco Corp. said its anticipated earnings per share from continuing operations for the full year is expected to be $2.12 to $2.16 per share on a reported basis, and $2.19 to $2.23 per share on an adjusted basis.