September 25, 2017 / 10:59 AM / 2 years ago

BRIEF-Circor to acquire Colfax’S fluid handling business from Colfax Corp for $855 million in cash and stock

Sept 25 (Reuters) - Circor International Inc

* Circor to acquire Colfax’S fluid handling business from Colfax corporation for $855 million in cash and stock

* Circor International Inc - ‍deal expected to be accretive to earnings and margins within first year​

* Circor International - combination results in estimated pro forma combined revenues of about $1.1 billion based on trailing 12 month results as of June 2017

* Circor International Inc - ‍Circor also reaffirmed its Q3 2017 net revenue and adjusted EPS guidance originally announced on July 28, 2017​

* Circor International Inc- upon closing of transaction, Colfax will own approximately 16% of Circor

* Q3 earnings per share view $0.43, revenue view $155.5 million — Thomson Reuters I/B/E/S

* Circor International Inc - ‍transaction is expected to generate a return on invested capital that exceeds Circor’s cost of capital by year four​

* Circor International Inc- Colfax has agreed to certain restrictions on transfer of shares, including a six month lock-up

* Circor International- after close of deal , CFH portfolio of brands to remain in place & majority of business to operate as separate segment within co

* Circor International Inc - Circor expects to realize cost synergies of $23 million by fourth year following transaction close

* Circor International Inc - company expects to incur approximately $10 million in one-time costs to achieve synergies Source text for Eikon: Further company coverage:

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