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September 6 news, the world's largest bearing manufacturer SKF announced its acquisition of competitors in United States Kaydon Company to expand in the North American market SKF said the tender offer for Kaydon will begin on September 16, once approved, the transaction is expected in the fourth quarter of 2013 to complete. Kaydon Company headquartered in Michigan has 2100 employees worldwide, mainly producing bearings, flow control products and other specialty products in the field. It gets $ 475 million sales revenue in 2012, operating profit margin was 16%. Kaydon company in North America has a very strong market share, that occupies 62% of the company's sales revenue; Kaydon revenue in Europe was 24%. The transaction is expected to help SKF reduce its dependence on European market that occupies 50% of total sales revenue , but also can get Kaydon manufacturing operations in North America. Transaction is expected to generate an annual cost of approximately $ 30 million of synergies; including through the sale of SKF sales network brings Kaydon product sales, including expected synergies in sales in about $ 50 million annually. In Kaydon Corporation on September 3's closing price, SKF proposed tender offer for $ 35.50 per share offer is equivalent to 22% of the premium; this all-cash transaction on Kaydon tax valuation discounts and equal to its share of interest income before sales of 12.7 times. FAG HCS71916C.T.P4S.UL| FAG HCS71913E.T.P4S.UL | FAG HCS71914C.T.P4S.UL | FAG HCS71912E.T.P4S.UL | FAG HCS71911E.T.P4S.UL | FAG HCS7010C.T.P4S.UL | FAG HCS71906E.T.P4S.UL | FAG HCS7008C.T.P4S.UL | FAG HCS71906C.T.P4S.UL | FAG HCS71905E.T.P4S.UL |
