Brief: Flowserve To Acquire Velan In All-Cash Transaction Valued Around $245 Million

Velan

10/02/2023 12:57

Feb 10 (Reuters) - Flowserve Corp  FLS.N :
    * FLOWSERVE TO ACQUIRE VELAN IN AN ALL-CASH TRANSACTION
VALUED AT
APPROXIMATELY $245 MILLION (C$329 MILLION)
    * FLOWSERVE CORP - TRANSACTION EXPECTED TO BE ACCRETIVE TO
FLOWSERVE'S ADJUSTED EPS IN FIRST FULL YEAR AFTER CLOSE
    * FLOWSERVE CORP - VELAN SHAREHOLDERS TO RECEIVE C$13.00 IN
CASH
PER MULTIPLE VOTING AND SUBORDINATE VOTING SHARE
    * FLOWSERVE CORP - EXPECTS TO REALIZE APPROXIMATELY $20
MILLION OF
RUN-RATE COST SYNERGIES WITHIN TWO YEARS AFTER DEAL CLOSE

Source text for Eikon:  ID:nBw58N2Vba 
Further company coverage:  FLS.N