USA - Donaldson Company Inc, the Minneapolis-based filtration specialist, has received a binding offer from Nelson Global Products Inc of Stoughton, Wisconsin, USA to purchase its Exhaust and Emissions (E&E) business. Donaldson will now engage in a consultation with its employee representative committees in Europe. Following completion of the consultation process, Donaldson will have the right to enter into a purchase agreement with Nelson, pursuant to a put option agreement. Upon entering the purchase agreement, the contemplated acquisition by Nelson would be subject to customary closing conditions and regulatory approvals.

Tod Carpenter, chairman, president and CEO of Donaldson Company, said: “Consistent with our history of innovation, Frank Donaldson invented the first spark-arresting muffler in the 1920s. In recent years, the technical and manufacturing competencies required to support the E&E business have evolved. We believe Nelson, a global leader in the design and manufacture of thermal management, acoustic, air and fluid mechanics, and structural solutions, will provide E&E customers and employees a greater level of support. As we consider this transaction against our long-term opportunities, we expect the divestiture would create value for all stakeholders.”