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CFX - Colfax: After DJO Purchase Now Air & Gas Sale
Colfax Corporation
In November of last year, Colfax (CFX) announced the $3.15 billion acquisition for DJO Global, in a deal which negatively surprised investors who voted with their feet and sent shares down 15% in response to the deal announcement. To address the incurred leverage situation, the company is now making a sizeable divestment again, as it transforms the company into a less cyclical more structural growth play as well.
On paper, these moves make sense although much buying and selling of companies is not always value accretive (just ask investors in GE (GE