Atlas Copco AB agreed to buy Edwards Group Ltd. for $1.2 billion in cash to expand in vacuum pumps for semiconductor production and further broaden a client base beyond the construction and mining industry.

Shareholders of the British company will receive as much as $10.50 a share depending on this year’s financial results, Stockholm-based Atlas Copco said in a statement today. The offer price, starting at a minimum of $9.25 per share, is at least 11 percent more than Edwards’ average value over the past 30 days of trading, it said.

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