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Bids, Mergers and Takeovers

Smiths completes sale of explosive trace detection business

10 July 2017 13:40

Smiths Group has announced that it has completed the sale of the explosive trace detection business formerly owned by Morpho Detection to OSI Systems for $75.5m.

The Company said the proceeds will be reinvested in attractive growth opportunities.

As previously announced, in connection with its acquisition of Morpho Detection from Safran, Smiths had made commitments to the European Commission and the Department of Justice to sell the Trace Business.

At 1:40pm: (LON:SMIN) Smiths Group PLC share price was 0p at 1625p

Story provided by StockMarketWire.com

Related Company: SMIN

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