Watts Water Technologies to Acquire Danfoss Socla

Summary

Watts Water Technologies, Inc. announced a definitive agreement to acquire Danfoss Socla S.A.S and the related water controls business of certain other entities controlled by Danfoss A/S. The transaction is a share and asset purchase valued at approximately $165 million in cash, with an option to purchase the water controls business in China for an additional $4 million. The acquisition is expected to close by the end of April 2011.