Schweitzer-mauduit international, inc. announces offer to acquire uk-based scapa group plc, best-in-class innovation, design, & manufacturing solutions provider for healthcare & industrial markets

Alpharetta, jan. 27, 2021 (globe newswire) -- schweitzer-mauduit international, inc. ("swm" or the "company") (nyse: swm) today announced that it has reached an agreement with the board of scapa group, plc (“scapa”) (lse: scpa) on the terms of a recommended cash offer (to be made by swm's wholly owned indirect subsidiary) for the acquisition of the entire share capital of scapa, a uk-based innovation, design, and manufacturing solutions provider for healthcare and industrial markets. pursuant to the terms of the offer, scapa's shareholders will be entitled to receive 210 pence in cash for each scheme share. based on scapa's closing share price of £1.77 and the exchange rate of us$1.37:£1 on january 26, 2021, the transaction implies an equity value of approximately £402.9 million, or $551.9 million (see additional financial data below). the transaction is anticipated to be completed in the second quarter of calendar 2021.
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