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Schenck Buys Clyde Process Solutions for $55 Million, FT Says

Germany’s Schenck Process GmbH is buying Clyde Process Solutions Plc, a U.K. maker of pneumatic conveying and air-filtration equipment, for 35 million pounds ($55 million) in cash, the Financial Times reported.

Fifty-four percent of the shareholders of Clyde Process, which is listed on London’s Alternative Investment Market, have accepted Schenck’s offer of 82.5 pence a share, a 14 percent premium to Clyde Process’s closing price of 72.5 pence on Nov. 30, the newspaper said.

To contact the reporter on this story: Alan Purkiss in London on apurkiss@bloomberg.net.

To contact the editor responsible for this story: Colin Keatinge in London at ckeatinge@bloomberg.net.

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