Stephen Simpson, CFA
Wed, Jul. 6, 7:42 AM
- Nortek (NASDAQ:NTK) agrees to be acquired by U.K. engineering turnaround specialist Melrose Industries (OTC:MLSPF) for $86/share, a 38% premium to yesterday’s closing stock price.
- The offer gives NTK an enterprise value of $2.81B, including its equity value and part of its debt.
- The bet on the U.S. housing sector, from which the maker of cooling and heating systems for homes and offices derives much of its sales, comes as the Brexit vote has cast a shadow over the U.K. economy and sent the pound tumbling to historic lows.
Dec. 22, 2015, 7:20 AM
- All necessary regulatory approvals have been received for Honeywell's (NYSE:HON) acquisition of the Elster Division of Melrose Industries (OTC:MLSPY), and the company anticipates to close the transaction on December 29, 2015.
- Elster is a provider of thermal gas solutions, utility smart meters, software and data analytics solutions.
- Previously: EU clears Honeywell's Elster acquisition subject to conditions (Dec. 21 2015)
Jul. 28, 2015, 3:15 AM
Jun. 18, 2012, 3:27 AM
Sep. 12, 2011, 6:49 AM
U.S. pumps and valves manufacturer Colfax (CFX) will buy U.K. toolmaker Charter International (CHITF.PK) for £1.53B ($2.4B) in cash and shares, beating off rival bidder Melrose (MLSPF.PK) (PR). Despite the sweeter bid, Colfax still needs to convince Charter's shareholders that it can do a better job of a turnaround.| Sep. 12, 2011, 6:49 AM
Jun. 29, 2011, 8:46 AM
U.K. firm Melrose (MLSPF.PK) makes a preliminary £1.3B ($2.1B) offer for embattled tool and equipment maker Charter (CHITY.PK). The £7.80 a share bid is a 30% premium to Charter's closing price on Monday. News of the approach sends Charter's shares surging 27% to £7.79 in London.| Jun. 29, 2011, 8:46 AM