SPX Corporation Completes Offer for Custos
December 04 2006 - 7:29AM
PR Newswire (US)
CHARLOTTE, N.C., Dec. 4 /PRNewswire-FirstCall/ -- SPX Corporation
(NYSE: SPW) today announced that shares representing over 90% of
the total number of shares and votes in Aktiebolaget Custos (publ)
have been tendered. The company first announced its tender offer to
acquire all the shares of Custos on November 8, 2006. SPX has now
declared the offer unconditional and expects to begin the
settlement process on or about December 11, 2006. SPX views this as
an important strategic acquisition for its Flow Technology Segment.
The combined business will benefit from economies of scale in
Europe, a well-established sales network across an expanded product
portfolio, increased operating efficiencies and combined R&D
and new product programs to accelerate growth. SPX Corporation is a
leading global provider of flow technology, test and measurement
solutions, thermal equipment and services and industrial products
and services. For more information visit the company's web site at
http://www.spx.com/. This document does not constitute a tender
offer and no offer is being made, directly or indirectly, in the
United States, Australia, Canada, Japan or South Africa or any
jurisdiction where to do so would constitute a breach of laws in
that jurisdiction. Certain statements in this press release may be
forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act of 1934, as amended, and are subject to the
safe harbor created thereby. Please refer to our public filings for
a discussion of certain important factors that relate to
forward-looking statements contained in this press release. The
words "believe," "expect," "anticipate," "estimate," "guidance,"
"target" and similar expressions identify forward-looking
statements. Although the company believes that the expectations
reflected in its forward-looking statements are reasonable, it can
give no assurance that such expectations will prove to be correct.
DATASOURCE: SPX Corporation CONTACT: Jeremy W. Smeltser, Investors,
+1-704-752-4478, , or Tina L. Betlejewski, Media, +1-704-752-4454,
Web site: http://www.spx.com/
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