Colfax Corporation (NYSE:CFX) and Charter International plc (LSE:CHTR.l - News) announced that they have reached an agreement on the terms of a recommended offer by Colfax to acquire Charter for 910 pence (approximately $14.45) per Charter share, comprised of 730 pence in cash and a fixed ratio of 0.1241 Colfax common shares per Charter share. The stock portion of the consideration is valued at 180 pence based on the US$23.04 closing price of Colfax shares on September 9, 2011 and an exchange rate of 1.5881 US$ per British pound.

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