PORT WASHINGTON, N.Y. (AP) -- Pall Corp., a maker of filtration equipment, said Monday that it will buy ATMI Inc.'s life science business for $185 million, giving it new products for the biotech drug industry.
Pall said the deal should close in its fiscal third quarter, which runs through April. It's subject to regulatory approval.
Port Washington, N.Y.-based Pall expects the deal to add $20 million to $30 million in revenue this fiscal year and expects one-time costs of 5 to 8 cents per share. The company maintained its profit guidance of $3.30 to $3.50 per share, excluding one-time costs, for the year.
Danbury, Conn.-based ATMI makes semiconductor materials.
Shares of Pall fell 27 cents to $84.73 in afternoon trading, and ATMI shares rose 89 cents, or 3.1 percent, to $30.07. Earlier Monday ATMI stock reached a 5-year high of $31.44.