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Weir deal hailed as a ‘steal’
Glasgow engineer Weir’s (WEIR) acquisition of US mining tools business ESCO is flagged as a steal by analysts at Liberum.
They describe it as ‘an excellent acquisition at a good price’ citing the 12.6 times forecast earnings before interest, tax, depreciation and amortisation multiple.
However, with the sale of its Flow Control business to follow this transaction, the company will be almost 100% exposed to the cyclical mining and oil and gas industries.