MUSKEGON, MI and CHARLOTTE, NC — SPX Corp. and United Dominion Industries Ltd. have entered into a definitive agreement that has SPX acquiring United Dominion in an all-stock transaction, currently valued at $954 million.
SPX also said it will assume or refinance $876 million in United Dominion debt, bringing the total transaction value to $1.83 billion. The directors of both companies unanimously approved the agreement, according to an announcement from both companies.