Swedish engineering company Atlas Copco is inhaling the United Kingdom's Edwards Group, announcing Monday that it has agreed to pay up to $1.6 billion, including assumed debt, to acquire the supplier of industrial vacuums used in the production of semiconductors.
The transaction's terms call for Stockholm-based Atlas to pay at least $9.25 in cash for each Edwards Group share upon closing—an event expected to come in the first quarter of 2014, subject to the approval of regulators and Edwards shareholders. The purchase price could increase by $1.25 per share should Edwards Group meet certain financial targets this year.
