UPDATE 1-Carlisle to buy Hawk for $413 million

* To offer $50 per share

* Carlisle sees deal adding to earnings in first year

Oct 15 (BestGrowthStock) – Diversified manufacturer Carlisle Cos Inc
(CSL.N: ) agreed to acquire Hawk Corp (HWK.A: ) for $413 million to
strengthen its braking solutions platform.

Carlisle will offer Hawk shareholders $50 in cash, a 2
percent premium to the stock’s Thursday close.

In July, Hawk, which makes friction products used in brakes,
said it was exploring strategic alternatives, including sale of
the company.

Carlisle expected the deal to add to its earnings in the
first year. It also expected the acquisition to result in annual
run-rate synergies of about $20 million by 2012, of which a
portion will be realised during 2011.

Carlisle shares closed at $31.67 Thursday on the New York
Stock Exchange, while Hawk shares closed at $49.01 on the
American Stock Exchange.
(Reporting by Anand Basu in Bangalore; Editing by Dan Lalor)

UPDATE 1-Carlisle to buy Hawk for $413 million