Deals
Oerlikon Surges as Vacuum Unit Sale to Atlas Beats Expectations
- Oerlikon sale based on enterprise value of 525 million francs
- Deal will expand Atlas Copco's vacuum offering, CFO says
This article is for subscribers only.
OC Oerlikon Corp AG shares gained the most in more than 2 1/2 years after the Swiss industrial equipment maker agreed to sell its vacuum business to Sweden’s Atlas Copco AB for more than some analysts had expected.
The stock gained as much as 7.5 percent, the most since March 2013, and traded 6.5 percent higher at 10.70 Swiss francs by 11:48 a.m. in Zurich, their highest level since Aug. 21. Atlas Copco shares rose by as much as 1.4 percent.