11:37 AM EDT, 04/29/2024 (MT Newswires) -- Donaldson (DCI) said Monday it has agreed to buy a 49% stake in Medica, a manufacturer of hollow fiber membranes for blood and water purification.

Financial details of the deal were not disclosed.

The transaction is expected to be completed by Q3, subject to the positive outcome of the voluntary totalitarian tender offer on the ordinary shares of Medica, the company said.

The agreement provides Donaldson the option to acquire the remaining 51% stake in the future, the company said.

Shares of Donaldson were up more than 1% in recent trading.

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