By RTT News,
January 09, 2014, 02:56:00 AM EDT
(RTTNews.com) - Swedish engineering company Atlas Copco's (ATLKF.PK, ATLCY.PK, ATLCF.PK) acquisition of UK-based industrial technology company Edwards Group Ltd. ( EVAC ) has received all regulatory and antitrust clearance from all relevant authorities. The closing of the acquisition is expected to take place by close of business today, 9 January 2014, and consequently Edwards ADSs are anticipated to stop trading on the NASDAQ stock exchange prior to market opening on January 10, 2014.
On completion, the fixed cash payment of $9.25 per share would become payable to shareholders, Edwards Group stated. As part of the merger agreement filed with the SEC on August 28, 2013, an additional payment of up to $1.25 per share is potentially payable post-closing, calculated as per a mechanism set out in the merger deal. The additional payment would be paid after the fourth-quarter 2013 results have been completed, that is expected before the end of the first quarter of 2014, according to Edwards.
Edwards is a developer and manufacturer of sophisticated vacuum products, abatement systems and related value-added services, with over 90 years of experience. The products and services are integral to manufacturing processes, such as for semiconductors and flat panel displays, and are used within an increasingly diverse range of industrial applications.
On August 19, 2013, Atlas Copco has agreed to purchase Edwards Group Ltd.
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