Sweden's SKF to buy Kaydon in $1.25B deal


Sweden's SKF, the world's biggest bearings maker, agrees to acquire Kaydon Corp. (KDN) in an all-cash deal valued at ~$1.25B.

SKF (SKFRY.PK) has said it wants to expand in North America as industrial growth and modest wage increases make the region more attractive for major investments this year than China; KDN generates 62% of its sales ($475M total in 2012) in North America.

The offer of $35.50/share represents a 22% premium over yesterday's closing price.

KDN +22.5% premarket.

Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs