• Sep. 5, 2013, 7:20 AM
    • 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.
    Sep. 5, 2013, 7:20 AM