Source - SMW
Air filtration equipment provider MayAir Group said it had agreed to be acquired by Poly Glorious Investment Company for £50m in cash.

MayAir shareholders would get 120p for each of their shares in the company, representing a 25% premium to their closing price on January 25.

"The acquisition of MayAir is expected to be highly additive to the wider Poly Glorious group," Poly Glorious director Jiang Li said.

"This will enable us to further strengthen the overall competitiveness in our existing product offering as well as our market presence in the air purification industry."

At 8:26am: (LON:MAYA) Mayair Group Plc share price was +19.5p at 115.5p