Middle-market dealmakers say the pace of growth in overall deal flow increased in July after a seasonal slowdown in June.
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.
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Symmetry Medical (NYSE: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 (NASDAQ: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.