Thermo Electron to Acquire Kendro Laboratory Products
Thermo Electron Corporation announced that it has entered into a definitive agreement to acquire the Kendro Laboratory Products division of SPX Corporation, for $833.5 million in cash, subject to a post-closing balance sheet adjustment. Thermo has received a commitment for a credit facility of $600 million to finance a portion of the purchase price. The transaction is subject to regulatory approvals and other customary closing conditions.
It is estimated that in the first full year of financial consolidation, this acquisition will be accretive to adjusted EPS by at least $0.10 per share and will be slightly dilutive to GAAP earnings per share (EPS). It is expected to be accretive to GAAP earnings per share (EPS) in the second full year. Adjusted EPS excludes restructuring and other costs/income and amortization of acquisition-related intangible assets.
Other news from the department business & finance
