Casket Maker Hillenbrand Scoops Up K-Tron

Law360, New York (January 11, 2010, 1:16 PM EST) -- Casket maker Hillenbrand Inc. has reached a $390 million deal to acquire conveyor system producer K-Tron International Inc. in a bid to diversify its business portfolio.

Under the merger agreement, Hillenbrand will take on K-Tron for $150 per share in cash, a 32 percent premium over K-Tron's closing price Friday. The deal has an aggregate purchase price of some $435 million, but adjusting for K-Tron debt and cash on hand, the two firms confirmed that the estimated net purchase price of the deal is approximately $390...
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