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Smiths Industries continues acquisition strategy with £136 million purchase of Graseby

This article was originally published in Clinica

Executive Summary

Smiths Industries is to pay £136 million ($220 million) for fellow UK company Graseby, in a move aimed at expanding Smiths Industries' range of hospital products and enhancing its distribution network. It will pay 211p a share, a 41% premium on closing share prices on August 4, the day before the transaction was announced. Shares in Graseby, which markets medical devices and monitoring equipment, leapt 39% to 207.5p at close on August 5.

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