UK’s Rosebank Sells Shares to Fund $3 Billion US Deals

Rosebank Industries Plc plans to buy two specialty manufacturing companies in the US for $3.05 billion, tapping equity markets to help fund the deal.

The buyout vehicle, led by former Melrose Industries Plc executives, will acquire metal-parts maker MW Components and CPM, a manufacturer of automation systems, from American Securities LLC, according to a statement. Rosebank will raise about £1.9 billion ($2.5 billion) for the takeovers by selling shares at £3.30 each, as well as issuing new debt.