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Stock Market & Financial Investment News

News Breaks
December 21, 2012
06:57 EDTHDNGHardinge acquires Usach Technologies
Hardinge announced that it has acquired Usach Technologies, an American machine tool company and leading provider of high-precision, computer-controlled ID and OD grinding machines and grinding systems based in Elgin, Illinois. Usach Technologies' revenue in 2012 is expected to be approximately $14M, with an ending backlog of approximately $24M. Hardinge expects the acquisition to be accretive in 2013.
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August 24, 2015
08:02 EDTHDNGHardinge to explore strategic alternatives, including possible sale, merger
Hardinge announced that its board, working together with its management team, is exploring strategic alternatives to enhance shareholder value. These alternatives could include, among other things, a possible sale, merger or other form of business combination or strategic transaction. The company and the board are working with BMO Capital Markets Corp., as financial advisor, and Skadden, Arps, Slate, Meagher & Flom LLP, as legal advisor, to assist in its evaluation of strategic alternatives. There is no set timetable for this process of exploring strategic alternatives. The company stated that no decision has been made with regard to any alternatives and that there can be no assurance that the Board's exploration of strategic alternatives will result in any transaction being entered into or consummated. Hardinge does not intend to discuss or disclose developments with respect to this process until the Board has approved a definitive course of action or otherwise concludes the review of strategic alternatives.

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