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Cooper Industries PLC And Danaher Corporation Announces Definitive Agreement To Sell Apex Tool Group For $1.6 Billion To Bain Capital


Wednesday, 10 Oct 2012 06:45am EDT 

Cooper Industries PLC announced that they have signed a definitive agreement to sell Apex Tool Group to Bain Capital for approximately $1.6 billion subject to post-closing adjustments. Currently, Cooper and Danaher each maintain a 50% joint venture ownership interest in Apex. The closing of the definitive agreement is subject to customary conditions, including regulatory approvals. The parties currently expect that the transaction will close in the first half of 2013. Goldman Sachs served as the exclusive financial advisor to Apex Tool Group.