Weir Group to pay $675m for Texas firm Seaboard

Weir Group, the FTSE 100 engineering company servicing the oil, gas and power sectors, is to pay $675m for the US wellhead specialist Seaboard.

Weir Group, the FTSE 100 engineering company servicing the oil, gas and power sectors, is to pay $675m for the US wellhead specialist Seaboard.

The deal, which is subject to regulatory approval, is expected to complete in December. The transaction is payable in cash and will be funded from new and existing bank facilities.

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