GE Power Systems to acquire Osmonics
GE Power Systems and Osmonics Inc. announced Nov. 4 that they've agreed to merge Osmonics into a wholly owned subsidiary of GE in a stock and cash transaction. Osmonics manufactures water purification and fluid filtration, separation, and handling equipment. The acquisition agreement calls for Osmonics' shareholders to receive the equivalent of $17 worth of G...
Atlanta, GA; Minnetonka, MN – GE Power Systems and Osmonics Inc. announced Nov. 4 that they’ve agreed to merge Osmonics into a wholly owned subsidiary of GE in a stock and cash transaction. Osmonics manufactures water purification and fluid filtration, separation, and handling equipment. The acquisition agreement calls for Osmonics’ shareholders to receive the equivalent of $17 worth of GE’s common stock for each share of Osmonics. Subject to the approval of a majority of Osmonics’ common shareholders, as well as regulatory and other approvals, the acquisition is expected to close in 1Q03. Once the sale is complete, Osmonics will be integrated with GE Water (Guelph, Ontario, Canada), a unit of GE Power Systems.
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