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Melrose surges on Elster disposal, plans to return over A 2bn to shareholders
2015-07-28 10:08:52| Chemicals - Topix.net
Melrose Industries rocketed 15% after saying it has entered into an agreement to dispose of its Elster business to Honeywell International for a cash consideration of A 3.3bn and announcing plans to return over A 2bn to shareholders. The company said the consideration is payable in cash on completion and implies a multiple of 3.1 times 2014 revenue and 14.3 times 2014 headline earnings before interest, tax, depreciation and amortisation.
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Category:Chemicals