Nortek to be acquired by Melrose Industries for ~$2.8 billion

Nortek Inc., a diversified HVAC/ventilation products company, signed a merger agreement to be acquired by UK-listed Melrose Industries PLC for $86 per share in cash, an estimated total enterprise value of approximately $2.8 billion.

“PROVIDENCE, R.I. — 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.”

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