Compressor maker Tecumseh to be acquired for ￡79 million

Tecumseh Products Company has announced it has entered into a definitive merger agreement under which an affiliate of Mueller Industries and Atlas Holdings will acquire Tecumseh in a transaction valued at approximately $123 million, including the assumption of net debt. The offer price of $5.00 per share in cash reflects a 155 per cent premium based on Tecumseh’s closing price of $1.96 per share on August 4, 2015.