Carrier Global Corp. (NYSE: CARR) said it would exit its Fire & Security and Commercial Refrigeration businesses over the course of 2024 in an effort to transform the company's business portfolio and establish it as a pure-play global provider of intelligent climate and energy solutions. 

As part of the announced strategic actions, Carrier will acquire Viessmann Climate Solutions, the largest segment of Germany-based Viessmann Group, in a cash (80 percent) and stock (20 percent) transaction valued at approximately $13.2 billion, subject to working capital and other adjustments. The value represents approximately 13x projected 2023 EBITDA.