Timken Co to Acquire CGI Inc, Expanding Into Medical Robotics Market, Financial Terms Undisclosed
Portfolio Pulse from Benzinga Newsdesk
Timken Co (NYSE: TKR) is set to acquire CGI Inc., a Nevada-based manufacturer specializing in precision drive systems for automation markets, including medical robotics. The financial terms are undisclosed, and the deal is expected to close in the third quarter, pending regulatory approval.
August 05, 2024 | 10:55 am
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Timken Co (NYSE: TKR) is acquiring CGI Inc., expanding its footprint into the medical robotics market. The acquisition is expected to close in the third quarter, pending regulatory approval.
The acquisition of CGI Inc. allows Timken Co to expand into the growing medical robotics market, potentially boosting its revenue and market presence. The deal's completion is subject to regulatory approval, but it is expected to close in the third quarter, indicating a positive short-term impact on TKR's stock price.
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