Barnes Group buying MB Aerospace in $740 mln deal

Barnes Group Inc.
B,
-2.52%
on Monday announced plans to buy Motherwell, U.K.-based component maker MB Aerospace in a deal valued at about $740 million. The deal is expected to close in the fourth quarter. The deal is expected to generate about $330 million of revenue in 2023. Barnes Group stock is up 2% so far in 2023, compared to an 11.5% gain by the S&P 500
SPX,
+0.19%.