Hillenbrand to acquire K-Tron International

Hillenbrand, Inc. and K-Tron International, Inc. have signed a definitive merger agreement providing for Hillenbrand's acquisition of K-Tron for US$150 per share in cash.

The transaction will have an aggregate purchase price of approximately US$435 million and adjusted for debt and cash on hand the estimated net purchase price will be US$390 million.

The transaction is expected to close at the end of March 2010, and K-Tron will then operate as a wholly-owned subsidiary of Hillenbrand.

Kenneth Camp, Hillenbrand's president and CEO, said the two companies have different products but both share similar processes and core operational values.

Hillenbrand, Inc. is the holding company for Batesville Casket Company, a leader in the North American death care industry through the sale of funeral services products.

K-Tron is a global provider of bulk solids material handling equipment and systems for the process, electric utility, pulp and paper, mining and other industries, through two separate business lines, which focus on feeding and pneumatic conveying equipment (K-Tron Process Group) and size reduction equipment (Size Reduction Group).