Mohawk to Purchase Spano Invest and 3 Stocks Enjoying 52-Week Highs
Mohawk Industries (NYSE:MHK): Closing price $102.77
Mohawk has reached an agreement to buy the Belgian panel board maker Spano Invest in a cash transaction for $168 million. Spano’s 2012 revenues are calcutated at$231 million. This acquisition should close in the second half of 2013, and is expected to be slightly accretive in the first full year. Shares closed up 0.29 percent at $102.77, and have been traded in a 52-week range of $59.69 to $102.52.