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The latest announcement is out from Modine Manufacturing Company (MOD).
Modine Manufacturing has agreed to acquire all shares of Scott Springfield MFG Inc. for $257 million CAD, expanding its portfolio and establishing the company as a wholly-owned subsidiary. This cash and credit-financed deal includes post-closing adjustments and indemnification provisions, without the need for additional financing or regulatory delays. With customary terms and covenants, the transaction is set to close by the end of February 2024. Additionally, non-competition agreements were signed to ensure a smooth integration, while further details and an investor presentation were provided in recent company exhibits and press releases.
See more insights into MOD stock on TipRanks’ Stock Analysis page.