Industrial products distributor MSC Industrial Direct Co Inc said it would purchase the North American distribution business of Barnes Group Inc for $550 million. The deal, which is expected to close during MSC's third quarter, would generate cost synergies in the range of $15 million to $20 million by fiscal 2015, MSC said in a statement.MSC distributes industrial supplies such as fasteners, metalworking tools and measuring instruments.
Barnes Group Inc. is an international aerospace and industrial components manufacturer and logistics services company serving a range of end markets and customers. Shares of B remained unchanged at $24.47. In the past year, the shares have traded as low as $19.71 and as high as $28.63. On average, 279980 shares of B exchange hands on a given day and today's volume is recorded at 0.
MSC Industrial Direct Co., Inc. (MSC) is direct marketers and distributors of a range of metalworking and maintenance, repair and operations (MRO) products to customers throughout the United States. Shares of MSM remained unchanged at $83.09. In the past year, the shares have traded as low as $61.39 and as high as $86.81. On average, 405656 shares of MSM exchange hands on a given day and today's volume is recorded at 0.
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