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SKF Closes offer to Acquire Kaydon Corporation

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The SKF Group (OTC: SKFRY) today announced the successful completion of its all cash
tender offer to acquire all outstanding shares of Kaydon Corporation
(NYSE: KDN) for USD 35.50 in cash. SKF expects to complete the
acquisition of Kaydon later today through a merger under Section 251(h)
of the Delaware General Corporation Law.

“I am delighted that Kaydon and its employees will be joining the SKF
Group. Kaydon brings to SKF a highly complementary product portfolio and
an improved customer and geographic presence. They have a strong
leadership team, as well as highly skilled and qualified employees,”
says Tom Johnstone, SKF President and CEO. “This acquisition fully
supports SKF's strategy to become a knowledge engineering company and

See full press release

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


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