Market Overview

Edwards Group to be Acquired by Atlas Copco Group for $10.50/Share

Edwards Group Limited (NASDAQ: EVAC) and Atlas Copco Group (NASDAQ OMX Stockholm: ATCO A, ATCO B) ("Atlas Copco"), the Sweden-based provider of industrial productivity solutions, today announced that the companies have entered into a definitive merger agreement in a transaction valued at up to approximately $1.6 billion, including the assumption of debt.

Under the terms of the merger agreement, a subsidiary of Atlas Copco will acquire Edwards for a per-share consideration of up to $10.50, which includes a fixed cash payment of $9.25 at closing and an additional payment of up to $1.25 per share post-closing, depending on Edwards' achievement of 2013 revenue within the range of £587.5 million to £650 million and achievement of a related Adjusted EBITDA1 target within the range of £113.9 million to £145 million. The transaction is expected to close in the first quarter of 2014.

Depending on the amount of any additional payment, the merger consideration represents a

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Posted-In: News Guidance Financing Contracts Asset Sales Management M&A Global

 

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