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BRIEF-CCL Industries to buy Checkpoint Systems for $10.15 per shr

Published 2016-03-02, 07:25 a/m
© Reuters.  BRIEF-CCL Industries to buy Checkpoint Systems for $10.15 per shr
CCLb
-

March 2 (Reuters) - CCL Industries Inc CCLb.TO :
* To acquire Checkpoint Systems for US$10.15 per share
* Transaction value of $556 million that includes the assumption of $44 million
of net cash
* Sees immediate earnings accretion from deal
* Says intends to finance the transaction entirely with its existing US$1.2
billion revolving syndicated credit facility
* Says management estimates that non-recurring costs of $40 million will be
incurred between closing and the end of 2018
* Transaction has been unanimously approved by the boards of both companies and
is expected to close in mid-2016
* Says upon the closing of the transaction, Checkpoint will be reported as a
new operating segment of Ccl

* Source text for Eikon ID:nMKW66zV8a

* Further company coverage CCLb.TO


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