Pentair Announces Definitive Agreement to Acquire Hydra-Stop

LONDON--(BUSINESS WIRE)--Pentair plc (NYSE: PNR), a leader in helping the world sustainably move, improve and enjoy water, life’s most essential resource, today announced it has entered into a definitive agreement to acquire Hydra-Stop LLC, a leading provider of specialty valve solutions, for approximately $290 million in cash, subject to customary adjustments, from Madison Industries. When adjusted for approximately $50 million of expected tax benefits, the net transaction value is approximate