Honeywell Makes $1.4B Bid For Sperian Protection

Law360, New York (May 19, 2010, 4:47 PM EDT) -- Honeywell International Inc. plans to acquire French personal protective equipment maker Sperian Protection in a deal valued at $1.4 billion, the companies said Wednesday.

Sperian Protection's two largest shareholders, Essilor and Ginette Dalloz, who represent 28 percent of of the share capital, have already agreed to sell their shares to Honeywell, subject to regulatory approvals, and Honeywell will also launch an all-cash tender offer for all outstanding shares, the companies said.

Including the assumption of debt, the companies say the aggregate transaction value will be approximately...
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