Domino to be acquired by Brother Industries.

Position:INDUSTRY News

Brother Industries Ltd. has agreed to buy Domino Printing Sciences for 1.03 billion pounds ($1.6 billion) in cash to expand in labels and packaging as the home and office printing market declines. Shareholders of Cambridge, UK-based Domino will receive 915 pence per share, or a 27% premium to the stock's last closing price in London, the company said in a statement. Domino s directors plan to recommend that shareholders accept the offer, which would value the company at about 15.4 times earnings before some items. Following the announcement, the shares jumped 31% to 947.5 pence. Brother Industries, based in Nagoya, Japan, is seeking to diversify from its office equipment products which include laser and inkjet printers. The agreement follows Japanese companies...

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