Industrial pump maker IDEX Corp to buy Mott Corp for $1 billion (updated)

IDEX

23/07/2024 14:01

(Adds details in paragraphs 2-4)
       July 23 (Reuters) - Industrial pump maker IDEX Corp
 IEX.N  said on Tuesday it would buy filtration products maker
Mott Corp for $1 billion in cash.
    The transaction will be funded through a combination of cash
on hand, borrowings from IDEX's current credit facility and
potential debt issuance.
    Mott will join IDEX's health and science technologies
segment, IDEX said.
    The deal is expected to close by the end of the third
quarter of 2024. 

 (Reporting by Kannaki Deka in Bengaluru; Editing by Shilpi
Majumdar)
 ((Kannaki.Deka@thomsonreuters.com;))