Seeking Alpha

Lindsay Corporation (LNN)

  • Nov. 5, 2014, 7:29 AM
    • Lindsay (NYSE:LNN) has entered into a definitive agreement to acquire Elecsys (NASDAQ:ESYS) for $17.50 per share in cash, for a total purchase price of approximately $70.5M. The parties are targeting a January 2015 closing.
    • The agreement has been unanimously approved by both the Lindsay and Elecsys boards of directors.
    • Upon closing of the transaction, Elecsys will become a wholly owned subsidiary of Lindsay and will continue to be operated by the company’s current management team.
    • ESYS +80.2% premarket
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  • Aug. 16, 2013, 4:24 PM
    • Lindsay Corporation (LNN) buys filtration solutions company Claude Laval Corporation, also known as LAKOS.
    • LAKOS has annual revenues of $25-30M.
    • LNN CEO Rick Parod says there "is a very direct synergy between LAKOS filtration solutions and LNN's water and irrigation markets." (PR)
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Company Description
Lindsay Corp designs, manufactures, and sells irrigation systems used in the agricultural industry to increase or stabilize crop production while conserving water, energy, and labor. It also manufactures infrastructure products and services.