TTI to acquire Atlas Copco's power tool business (Milwaukee, AEG) for $626.6M

Techtronic Industries (TTI) entered a stock purchase agreement to acquire Atlas Copco AB's electric power tool and accessories business, including the Milwaukee and AEG brands, for US $626.6 million debt-free, expected to close before end of 2004.

“Techtronic Industries Co. Ltd. (TTI) announced that it has entered into a stock purchase agreement to acquire Atlas Copco AB's electric power tool and accessories business, currently conducted through Milwaukee Electric Tool Corporation and Atlas Copco Electric Tools GmbH and certain other entities under the brand names Milwaukee® and AEG®. The net cash consideration for the purchase is US $626.6 million on a debt-free basis.”

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