Honeywell to acquire Elster Division of Melrose Industries for ~$5.1 billion

Honeywell signed a definitive agreement to acquire the Elster Division of Melrose Industries plc, a provider of thermal gas heating solutions and gas/water/electricity meters, for approximately $5.1 billion at ~12.6x estimated 2015 EBITDA, expected to close in Q1 2016.

“Honeywell announced it has signed a definitive agreement to acquire the Elster Division of Melrose Industries plc, a leading provider of thermal gas solutions for commercial, industrial, and residential heating systems and gas, water, and electricity meters, including smart meters and software and data analytics solutions, for approximately $5.1 billion.”

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