(RTTNews) - Specialist engineering company IMI plc (IMI.L) announced the proposed acquisition of Adaptas Solutions for an enterprise value of $271 million or 202 million pounds.
Closing is expected to take place before 31 December 2021, subject to customary merger filings.
The acquisition is forecast to be immediately earnings accretive, deliver a financial return in excess of IMI's cost of capital by year three, and fully support IMI Precision's delivery of its existing margin targets.
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