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9	9	* John Crane is a global leader in rotating equipment solutions, supplying engineered technologies
10	10	* Smiths Detection is a global leader in detection and screening technologies for the protection of people and assets, supporting safety, security and freedom of movement in today’s world.
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13	13	[[image:SMGKF0.jpg||height="405" width="720"]]
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165	165	**Terms of the transaction**
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167		-At the time of announcement, the transaction represented an enterprise value of $2.7bn for Smiths Medical, including approximately $1.85bn in immediate cash proceeds and $0.5bn in ICU shares^^1^^. The aggregate enterprise value could increase to over $3.0bn if ICU’s share price averages $300 or more for any 30-day period during the next three years, or for any 45-day period in the next four years. This will trigger additional cash consideration of $0.1bn payable to Smiths^^2^^, plus a $0.25bn increase in the value of ICU shares.
	166	+At the time of announcement, the transaction represented an enterprise value of $2.7bn for Smiths Medical, including approximately $1.85bn in immediate cash proceeds and $0.5bn in ICU shares. The aggregate enterprise value could increase to over $3.0bn if ICU’s share price averages $300 or more for any 30-day period during the next three years, or for any 45-day period in the next four years. This will trigger additional cash consideration of $0.1bn payable to Smiths, plus a $0.25bn increase in the value of ICU shares.
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169	169	**Share buyback and use of proceeds**
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179	179	// //
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181	181	= References =
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183	183	{{putFootnotes/}}