SKF Closes offer to Acquire Kaydon Corporation

The SKF Group

today announced the successful completion of its all cash tender offer to acquire all outstanding shares of Kaydon Corporation

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