Neogen (NEOG) said Monday it has agreed to sell its cleaners and disinfectants business to Kersia Group for $130 million in cash, with potential additional payments based on future business performance.
The deal will likely close in fiscal Q1 2026, the company said, adding that the net proceeds will be allocated toward the repayment of $100 million drawn on its revolving credit facility.
The company's shares were up over 2% in recent Monday trading.
Price: 4.73, Change: +0.34, Percent Change: +7.63
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