Signify to buy U.S. firm Cooper Lighting for $1.4 billion

Signify, the Dutch-based lighting company, has agreed to buy U.S. firm Cooper Lighting Solutions from Eaton Corp. for $1.4 billion in cash to boost its presence in North America. Signify shares rose 4.6% to 25.00 euros in early trading in Amsterdam, after the company said the deal would add to earnings per share in the first year and lead to cost savings of $60 million annually within three years.