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Melrose to return A 2.4bn to shareholders following Elster disposal

2015-12-29 15:19:57| Chemicals - Topix.net

Melrose Industries said it has completed the A 3.3bn disposal of its Elster business to Honeywell International and announced the proposed return of around A 2.4bn in cash to shareholders, equivalent to 240p per ordinary share. Melrose agreed the disposal with Honeywell in July and announced in October its intention to return a large part of the net sale proceeds from the disposal to shareholders after completion and to carry out an associated share capital consolidation.

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