Edwards Group Limited
) recently announced an increase in its third quarter 2013
revenue and net income guidance. The revision is the outcome of
solid revenue growth - on the back of the company's Semiconductor
and Flat Panel revenues experienced in the quarter.
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Revenue is now expected to range within £177-180 million as
compared with the guidance range of £160-175 million provided
during the second quarter 2013. Net income is anticipated to grow
in excess of previously provided guidance range of £17-25
In Aug 2013, Edwards Group entered into a merger agreement with
Atlas Copco Group, whereby the company will be acquired by a
subsidiary of Altas for roughly $10.50 per share in cash. The
whole transaction has been valued at approximately $1.6 billion,
The per share merger consideration includes $9.25 of fixed cash
payment to Edwards Group and the rest is contingent upon the
company achieving its guidance for 2013. The merger is likely to
consummate in the first quarter 2014.
Both the parties of the merger agreement have received a go ahead
from their respective board of directors. The companies still
await shareholder approval, antitrust clearance, and fulfilment
of other customary closing conditions.
Edwards Group Limited is an industrial technology company engaged
primarily in the manufacturing and selling of vacuum products and
abatement systems. The company currently has a market
capitalization of $1.1 billion. Other stocks to watch out for in
the industry are
Altra Holdings, Inc.
DXP Enterprises, Inc.
), each with a Zacks Rank #2 (Buy).