SKF To Pick Up Lubrication Systems Co. Lincoln For $1B

Law360, New York (October 19, 2010, 1:26 PM EDT) -- Swedish bearings supplier SKF AB announced Tuesday that it had agreed to buy St. Louis, Mo.-based lubrication systems provider Lincoln Holdings Enterprises Inc. for $1 billion.

SKF said its deal to acquire Lincoln on a cash and debt free basis from privately owned operating firm Harbour Group will give it better access to the lubrication tools and equipment aftermarket in North America.

The transaction, which will be financed by existing cash and credit facilities on closing, is subject to regulatory approval in the U.S., Germany and...
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