Melrose Industries to acquire Nortek for $2.8B

Nortek Inc., a diversified company including heating, cooling, and ventilation products, signed a merger agreement to be acquired by UK-listed Melrose Industries for $86 per share in cash, an enterprise value of about $2.8 billion and a ~38% premium to the prior closing price.

“Nortek Inc., a global diversified company whose offerings include heating and cooling products, ventilation products, and more, announced that it has signed an agreement and plan of merger with Melrose Industries PLC, a UK listed public company, to be acquired by Melrose for $86 per share in cash — an estimated total enterprise value of approximately $2.8 billion.”

Signals are extracted from public coverage and print archives and pinned to a verbatim quote, presented as reported by their sources; naming a company in a signal is not an accusation against it. The verified mark denotes a high-confidence, corroborated signal. See our methodology and legal notes.