Carlisle Companies (NYSE:CSL) said today it has agreed to acquire Hawk Corporation (HWK) for $50 per share.
In total, the deal is valued at $413 million.
The boards of both companies have apporved the deal.
Carlisle said the acquisition of Hawk, a provider of friction products for breaks, clutches, and transmissions, will enable it to provide a broader line of attractive products, and will increase exposure to emerging markets in China, Brazil and India.
Carlisle said the transaction will be accretive to its earnings in the firat year, and is expected to close by the end of 2010.
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