The Toro Company to acquire The Charles Machine Works, Inc.

摘要

The Toro Company (NYSE: TTC) announced that it has entered into a definitive agreement to acquire privately held The Charles Machine Works, Inc. - an Oklahoma corporation and the parent company of Ditch Witch and several other leading brands in the underground construction market - for $700 million in cash subject to certain adjustments set forth in the definitive agreement. The transaction is subject to regulatory approvals and other customary closing conditions and is currently anticipated to close before the end of Toro's fiscal 2019 third quarter. More detailed information regarding the transaction is included in an investor presentation available at www.thetorocompany.com.