GKN To Acquire Stromag

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GKN PLC
GKNLY
announced its plans to buy Stromag Holding GmbH for 164 million euros ($231 million) in cash and the repayment of EUR31 million of debt. The transaction is likely to close during September 2011. GKNLY shares gained 3.80% to close at $3.82 on Friday.
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Posted In: NewsM&Amerger and acquisition
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