GKN PLC GKNLY reported that it has acquired the aircraft engine division of Volvo AB VOLVY for SEK6.9 billion ($1 billion).
The deal is expected to complete in the third quarter. GKN's sales last year came in at GBP6.1 billion.
GKN shares closed at $2.83 on Tuesday, while Volvo shares closed at $11.68 on Tuesday.
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