The world's largest bearing manufacturer in Sweden SKF (SKFb.ST), Thursday said it has agreed to purchase Kadant Inc. is headquartered in the United States (KDN.N) valued at approximately $ 125 million all-cash transaction.
SKF said in a statement that the deal, which includes $ 9.5 billion of net debt, will be paid in cash on hand and improve the Group's earnings in the first year after completion of the transaction.
35.5% of U.S. kaydon shares compared with Wednesday's closing price quoted premium of 22% and has been unanimously recommended by the Company's shareholders, SKF said.
2,100 employees, of which $ 475 million in sales last year, the adjusted operating margin of about 16%, Kadant is a diversified industrial manufacturer, SKF said.



Other News:
SKF to buy U.S. Kaydon in $1.25 billion deal
Sri Lanka hits back at U.N. rights chief after visit
U.S. resolution on Syria strike passes first hurdle in Senate
Pioneering magazine editor Daniels dies in Maine
Obama defends NSA surveillance programs anew
Louisiana-Pacific to acquire Ainsworth for $1.1B
As Finland reels, Microsoft doubles down with Nokia phone deal
MSG pays $125M for 50 pct stake in Azoff company