Ceco Environmental Corp To Acquire Met-Pro Corp

Monday, 22 Apr 2013 08:00am EDT 

Ceco Environmental Corp announced that it has entered into a definitive agreement to acquire Met-Pro Corp. Met-Pro is a global provider of product recovery, pollution control, fluid handling and filtration solutions. Pursuant to the terms of the definitive agreement, CECO will acquire all of the outstanding shares of Met-Pro common stock in a cash and stock transaction valued at a total of approximately $210 million, or $13.75 per share, which represents a 43% premium to Met-Pro's share price as of the close on April 19, 2013. The consideration includes $7.25 per share in cash and $6.50 per share in CECO common stock. The boards of directors of each of CECO and Met-Pro have unanimously approved the transaction. 

Company Quote

29 Aug 2014