Louisiana family splits $240M of $1.7B sale among 540 non-equity workers
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·1 viewsA Louisiana family sold Fibrebond, their 43-year-old electrical-equipment company, to power-management giant Eaton for $1.7 billion. Former CEO Graham Walker negotiated an unusual condition requiring 15% of the sale proceeds to be distributed among the company's 540 employees. None of these workers held any equity stake in the business prior to the deal. The arrangement resulted in a $240 million payout, with each employee receiving an average of $443,000.
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