REG - Melrose Ind PLC - EC Clearance and Return of Capital Update <Origin Href="QuoteRef">MRON.L</Origin>

Melrose IndustriesAnnouncement

21/12/2015 17:10

RNS Number : 7976J
Melrose Industries PLC
21 December 2015
21 December 2015
MELROSE INDUSTRIES PLC
European Commission Clearance and Return of Capital Update
Melrose Industries PLC ("Melrose") is pleased to announce that the European Commission has granted clearance for the acquisition of Elster by Honeywell International Inc. All other required regulatory approvals have been obtained. The transaction is expected to complete within several days.
Following completion, Melrose intends to return approximately 2.4 billion in cash to its shareholders, which is equivalent to 240 pence per existing ordinary share in Melrose, and to carry out a share capital consolidation to ensure, as far as possible, that the market price of an ordinary share remains approximately the same before and after the proposed return of capital. Details relating to the return of capital, including the amount being returned and an expected timetable of principal events, will be announced in due course following completion of the Elster disposal.
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Enquiries:
Montfort Communications
Financial PR
Charlotte McMullen
+44 (0) 7921 881 800

This information is provided by RNS
The company news service from the London Stock Exchange
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