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. More
Monday, Aug 193:16 AMAtlas Copco confirms that it will buy Edwards for up to $1.6B.
Monday, Aug 193:16 AM| 1 Comment
- 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)