Modine Manufacturing (MOD) to Acquire Luvata Heat Transfer Solutions in $422M Deal
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Modine Announces Agreement to Acquire Luvata Heat Transfer Solutions
September 17, 2016 6:22 AM EDTRACINE, Wis., Sept. 6, 2016 /PRNewswire/ --Â Modine Manufacturing Company (NYSE: MOD), a diversified global leader in thermal management technology and solutions, today announced that it has entered into a definitive agreement to acquire Luvata Heat Transfer Solutions (HTS) for a total consideration of approximately $422 million, to be financed through a combination of cash, debt, and $25 million of Modine common stock. Modine expects the transaction to close within calendar year 2016, subject to customary closing conditions, including regulatory review.
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