April 23, 2018 / 12:34 PM / 7 months ago

BRIEF-Spx Announces Agreement To Purchase Cues, Inc.

April 23 (Reuters) - SPX Corp:

* SPX ANNOUNCES AGREEMENT TO PURCHASE CUES, INC.

* SPX CORP SAYS DEAL EXPECTED TO BE MODESTLY ACCRETIVE TO 2018 ADJUSTED EPS GUIDANCE

* SPX - STOCKHOLDERS OF ELXSI WILL RECEIVE CASH EQUAL TO $51/SHARE OF COMMON STOCK OUTSTANDING AS OF EFFECTIVE TIME OF MERGER, OR A TOTAL ABOUT $189 MILLION

* SPX CORP - BOARD OF DIRECTORS OF BOTH SPX AND ELXSI HAVE UNANIMOUSLY APPROVED TRANSACTION

* SPX - UNDER DEAL UNIT OF SPX WILL BE MERGED WITH CUES' PARENT COMPANY, ELXSI CORPORATION ("ELXSI") Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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