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MTSC - MTS Systems News Story

$58.49 0.0  0.0%

Last Trade - 06/04/21

Sector
Industrials
Size
Mid Cap
Market Cap £817.4m
Enterprise Value £1.15bn
Revenue £589.5m
Position in Universe th / 6852

BUZZ-MTS Systems Corp: Highest in more than a year on Amphenol deal

Wed 9th December, 2020 2:27pm
** Testing and simulation services provider's shares
 MTSC.O  surge nearly 50% to $57.55 premarket; Highest in more
than a year
    ** Company agrees to be acquired by high-speed specialty
cables maker Amphenol Corp  APH.N  for $58.50/shr in cash, or
about $1.7 bln, including debt and liabilities  urn:newsml:reuters.com:*:nL4N2IP2Z9
    ** Deal represents a premium of 51.9% to MTSC's close on
Tuesday
    ** APH plans to bolster its range of sensor and sensor-based
products with the acquisition
    ** Deal, expected to close by mid-2021, will be accretive to
Amphenol's earnings in first year after completion, says APH
    ** YTD, MTSC stock down ~20%, as of last close

 (Reporting by Shreyasee Raj and Chavi Mehta in Bengaluru)
 ((Shreyasee.Raj@thomsonreuters.com))
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