Smiths Group completes Morpho Detection buy after US DoJ clearance
Smiths Group has completed its buy of Morpho Detection after getting clearance for the deal on 31 March from the US Department of Justice.
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"Consistent with the clearance from the European Commission, the DOJ approval is conditional on the post-completion divestment of Morpho Detection's explosive trace detection business," said Smiths Group.
In April last year, Smiths Group announced the proposed acquisition of Morpho Detection for $710m.
"This acquisition will better position us to meet customer requirements for high-technology, cost-efficient solutions and services, including software," the company said in its interim results, issued in late March 2017.
At that time, Smiths Group said, overall, its outlook for 2017 was unchanged.
"Group performance is expected to be slightly weighted towards the second half, albeit with a more balanced split between the first and second half than we saw last year."
At 10:38 GMT, shares in Smiths Group were down 0.25% to 1618p each.