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Siemens Buy Takes Morgan Into New Era

Family-owned business transitions to foreign buyer.


By Kelly Holman

May 5, 2008

When Siemens VAI Metals Technologies of Austria acquired steel equipment maker Morgan Construction Co. for north of $160 million last month, the transaction represented more than the sale of a middle-market US company to a large foreign corporate acquirer amidst a depressed M&A market.

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