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Colfax To Acquire DJO Global For $3.15 Bln - Quick Facts

Colfax Corp. (CFX) announced a definitive agreement to acquire DJO Global Inc. from private equity funds managed by Blackstone for $3.15 billion in cash. DJO is a global provider of orthopedic solutions, providing orthopedic devices, software and services. Colfax expects the transaction to deliver adjusted EPS accretion in the first full year after closing. The company expects to realize future tax benefits from DJO's approximately $800 million of net operating loss carryforwards.

Colfax said the company expects to maintain its existing debt ratings and will prioritize deleveraging to reduce its net leverage ratio to the mid-3x range by the end of calendar 2019. In connection with its deleveraging plans, Colfax is evaluating strategic options for its Air and Gas Handling business.

Colfax said it does not intend to undertake any material acquisitions or share repurchases until its leverage metrics return to targeted levels.

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