Flowserve Finalizes Trillium Flow Technologies' Valves Division Acquisition
FLS sits 52% above its 52-week low of $48.71.
Summary
Flowserve has completed its acquisition of Trillium Flow Technologies' Valves Division. This follows the company's recent financing activities, including a $500 million senior notes offering in May specifically earmarked to fund this acquisition, and a new $1.45 billion credit agreement secured in April. The completion of this strategic acquisition integrates a new division into Flowserve's operations, marking a significant expansion.
At the time of this announcement, FLS was trading at $74.16 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $9.5B. The 52-week trading range was $48.71 to $92.41. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.