A.O. Smith Reaches Agreement to Acquire GSW

A.O. Smith Corp. announced an agreement with the majority shareholders of GSW Inc. to acquire the Canadian-based company for $115 (Canadian) per share, totaling approximately $393.5 million (Canadian). The deal is conditional on due diligence and definitive agreements, with a target close by the end of Q1 2006.

“A.O. Smith Corp. announced that it has reached an agreement with the two majority shareholders of GSW Inc. on A.O. Smith's pending acquisition of the Canadian-based company. The parties have agreed to a purchase price of $115 (Canadian) per share for the shares owned by the two majority shareholders and confirmed the price will be made available to all shareholders. This equates to a purchase price of approximately $393.5 million (Canadian).”

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