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Actuant Corporation
ATU announced today the signing of a definitive
agreement to acquire Viking SeaTech (“Viking”). The purchase is subject to
customary regulatory approvals and closing conditions, and is expected to be
completed within 45 days. The approximately £150 million ($225 million)
purchase price will be funded from the Company's cash and revolving credit
facility, and excludes potential future performance related consideration.
Viking generated approximately $90 million in revenue in the past twelve
months.
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