CA - Flowserve and Velan extend deal termination date until September
2023-08-01 16:45:15 ET
- Flowserv ( NYSE: FLS ) and Velan ( TSX: VLN:CA ) announced that the companies agreed to extend the termination date for Velan's planned acquisition until Sept. 7.
- The outside date was extended an additional 30 days until Sept. 7 given that regulatory approvals have not all been obtained, according to a statement on Tuesday.
- Velan ( VLN:CA ) shares tumbled 13% in regular trading on Tuesday before news of the extension was released.
- Flowserv ( FLS ) agreed to acquire Velan ( OTCPK:VLNSF ), a Canadian manufacturer of industrial valves, in a deal valued at $245 million in February , or C$13 a share.
For further details see:
Flowserve and Velan extend deal termination date until September