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Client Work

SPX sells Edwards Systems Technology business to General Electric for $1.4 billion

Fasken
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Client

SPX Corporation

On March 23, 2005, SPX Corporation announced that it had completed the sale of its fire detection and building life-safety systems business Edwards Systems Technology to General Electric for $1.395 billion in cash. SPX intends to use the net proceeds from the transaction to pay down debt and repurchase equity.

Fasken Martineau advised SPX in this transaction with a team comprised of Scott Conover and Bruce Blain, Sean Morley (securities and mergers & acquisitions) and Douglas New (Competition Act/Investment Canada Act), and Ralph Nero (labour and employment). 

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