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Corporate: SPX Corporation's acquisition of CLYDEUNION Pumps

Mourant Ozannes acted for SPX Corporation in connection with its acquisition of CLYDEUNION Pumps. The total purchase price comprises 500 million British Pounds ("GBP"), paid at closing, plus a potential earn-out payment in 2013 based on 2012 EBITDA performance. The total consideration may not exceed 750 million GBP. See the company's filings with the Securities and Exchange Commission, including the Current Report on Form 8-K filed December 22, 2011, for more details. The structure of the earnout was revised to better align with CLYDEUNION's financial performance expectations, while the reduced upfront payment reduces risk to SPX.

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