Steris plc (STE) has shared an update.
STERIS Corporation has agreed to sell its Dental business segment to HuFriedy Group Holding LLC for $787.5 million plus up to $12.5 million in additional payments, contingent on future revenue targets. The deal includes standard terms and termination rights, with a potential $35 million termination fee payable by the purchaser under certain circumstances. The transaction is subject to regulatory approval and is expected to be completed by July 10, 2024, with a possible extension to August 10, 2024. STERIS announced the agreement in a press release, emphasizing that the provided information will not be legally filed or integrated into any official SEC documents.
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