Watts Water Technologies Confirms Intention to Acquire Danfoss Socla; Expected Price EUR 115M to 120M

Watts Water Technologies, Inc. WTS announced today, in connection with the public disclosure of certain merger control filings, its intention to acquire Danfoss Socla and the related water controls business of Danfoss A/S. The proposed acquisition is subject to the signing of a definitive purchase agreement and is conditioned upon the receipt of customary regulatory approvals. The proposed purchase price is expected to be in the range of €115 million to €120 million. Watts will not make any further public announcements about the possible transaction unless and until a definitive agreement is reached.