Middle-market dealmakers say the pace of growth in overall deal flow increased in July after a seasonal slowdown in June.
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The Mid-Market M&A Conditions index rose to 57.6 last month from a score of 56 in June. Scores for leads and completed deals also saw an uptick in July, although signed letters fell.
Symmetry Medical (SMA) says it’s selling its orthopedic device components business to privately-held Tecomet for $450 million. Symmetry Medical will transfer ownership of its remaining surgical instruments business to its shareholders as a new company. Tecomet makes orthopedic implants and precision surgical instruments.
First Solar (FSLR) has cut its full-year production forecast to between 1.8 and 1.9 gigawatts. The company, which is the biggest solar panel maker in the U.S., also posted disappointing second-quarter results. However, First Solar backed its full-year earnings guidance.