Casket company Hillenbrand Inc. said it plans to buy K-Tron International Inc. for about $435 million as it looks to move into another business.
Hillenbrand, the holding company for Batesville Casket Co., will pay $150 a share for K-Tron, which manufactures conveyor systems and other bulk material-moving equipment. The purchase price is a 32% premium over K-Tron's closing price Friday.
The investment banker who thought this one up should be awarded a medal. Or a whoopee cushion.....
Question: is this an example of forward or backward business integration?
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