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Atlas Copco AB ADR (ATLKY)

- OTCPK - Current
  • Aug. 19, 2013, 3:16 AM
    • As tipped, Atlas Copco (ATLKY.PK) has agreed to acquire British vacuum pumps firm Edwards Group (EVAC) for up to $1.6B, including $400M of debt.
    • Atlas Copco will pay an initial $9.25 a share and as much as $1.25 extra, depending on Edwards' 2013 earnings. For the full payment, the latter will have to earn revenues of £587.5-650M and adjusted EBITDA of £113.9-145M.
    • Edwards' shares closed at $8.45 on Friday.
    • Edwards shareholders representing around 84% of stock have agreed to vote in favor of the deal. (PR)
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  • Aug. 18, 2013, 2:22 AM
    • Atlas Copco (ATLKY.PK) is in advanced negotiations to acquire Edwards Group (EVAC), a U.K. provider of vacuum pumps, for almost $1.6B.
    • The Swedish engineering group plans to offer $9.20 a share, or an 8.9% premium to Edwards' closing price of $8.45 on Friday.
    • Edwards' banking advisers Barclays and Lazard have recommended to the company's board to accept the deal, which could be announced this week.
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Company Description
Atlas Copco is an industrial group with world-leading positions in compressors, construction and mining equipment, power tools and assembly systems. The Group delivers sustainable solutions for increased customer productivity, through innovative products and services.