SPX Corporation - Divestiture Of Service Solutions To Bosch Has Finally Been Completed

Shares of SPX Corporation (SPW) gained 0.6% in Monday's trading session. The diversified industrial manufacturer announced the completion of the sale of SPX Service Solutions to Robert Bosch GmbH for $1.15 billion.

The Deal

SPX Corporation announced on Monday that it has completed the sale of its service solution business to German-based Robert Bosch. SPX will receive a total consideration of $1.15 billion for the business, with net proceeds coming in at roughly $1 billion.

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