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The Toro Company to buy The Charles Machine Works

US-based lawnmower and machinery manufacturer, The Toro Company, has agreed to acquire privately held Charles Machine Works Inc. for $700 million in cash, The Street reported. The transaction is expected to close before the end of Toro's fiscal 2019 third quarter. J.P. Morgan Securities LLC acted as financial advisor to Toro and Bank of America Merrill Lynch and J.P. Morgan Chase Bank, N.A. provided committed debt financing to Toro for the transaction.

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M&A,Mergers and Acquisitions,M&A deals