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Melrose Industries PLC Sells Truth Hardware to Tyman Plc For $200 Million-DJ


Wednesday, 1 May 2013 02:30am EDT 

Dow Jones reported that Melrose Industries PLC said that it has signed a conditional agreement for the disposal of Truth Hardware to Tyman PLC for $200 million in cash. The consideration is on a debt and cash free basis. Melrose intends to use the proceeds to pay down existing borrowings. Disposal is conditional upon Tyman's firm placing and placing and open offer in connection with its equity fundraising becoming effective and anti-trust clearance in the U.S.. Completion is expected to occur in June 2013. 

Company Quote

246.3
-1.8 -0.73%
20 Oct 2014