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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

UPDATE 1-Amphenol to buy MTS Systems in $1.7 billion deal

Wed 9th December, 2020 1:42pm
(Adds more details on the deal, share movement)
    Dec 9 (Reuters) - High-speed specialty cables maker Amphenol
Corp  APH.N  said on Wednesday it would buy MTS Systems Corp
 MTSC.O  in a $1.7 billion deal, beefing up its range of sensor
and sensor-based products.
    MTS shareholders will receive $58.50 per share held,
representing a premium of 51.9% to the stock's close on Tuesday.
    Shares of MTSC rose 49.3% to $57.5 in premarket trading.
    The deal is likely to close by mid-2021 and is expected to
add to Amphenol's earnings in the first year after completion.
    Amphenol said it plans to undertake a strategic review of
MTS's test and simulation business.  urn:newsml:reuters.com:*:nBwbk6PdZa    
    Centerview Partners was the financial adviser to Amphenol,
while J.P. Morgan Securities and Evercore advised MTS.

 (Reporting by Tiyashi Datta and Chavi Mehta in Bengaluru;
Editing by Shounak Dasgupta and Sriraj Kalluvila)
 ((tiyashi.datta@thomsonreuters.com))
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