Industrial Distribution

Consolidations pick up again. (consolidation and merger of corporations)

Talbot Holdings and Milwaukee Electric latest to be acquired

NEWTON, MASS. - Last November, INDUSTRIAL DISTRIBUTION chronicled the rapid consolidation occurring in the manufacturing sector. The action cooled somewhat this spring, but heated up again in late June with the announcement of two major deals - Atlas Copco's $550 million buyout of Milwaukee Electric Tool Corp., and Cincinnati Milacron's $38 million bid for Talbot Holdings, Ltd. Last December, Danaher Tool Group gobbled up Armstrong Bros. Tool Co., and the word in the industry is that another acquisition is brewing in the cutting tool segment, even though Danaher's $32-a-share bid for Joslyn Corp. was rejected by Joslyn on July 19.

However, the action hasn't all been among makers of cutting tools and hand/power tools. Consolidation is spreading to all parts of the industry, as evidenced by Quaker State Corp. …

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