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BRIEF-Spectris sells Microscan business to Omron Corp for $157 mln
August 30, 2017 / 6:16 AM / 24 days ago

BRIEF-Spectris sells Microscan business to Omron Corp for $157 mln

Aug 30 (Reuters) - SPECTRIS PLC:

* DIVESTMENT OF MICROSCAN

* HAS SIGNED AN AGREEMENT TO SELL ITS MICROSCAN SYSTEMS, INC. BUSINESS TO OMRON CORPORATION FOR A TOTAL CASH CONSIDERATION OF $157 MILLION

* NET PROCEEDS FROM SALE WILL BE USED TO SUBSTANTIALLY REDUCE OUR NET DEBT, THEREBY INCREASING OUR FINANCIAL FLEXIBILITY FOR FUTURE CAPITAL DEPLOYMENT

* SALE IS EXPECTED TO CLOSE IN EARLY Q4

* SALE IS EXPECTED TO HAVE AN IMPACT ON 2017 ADJUSTED EARNINGS PER SHARE OF APPROXIMATELY 2 PENCE Source text for Eikon: Further company coverage:

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