S&P may boost Hawk

Standard & Poor's said it revised the CreditWatch implications on the B corporate credit rating on Hawk Corp. to positive from developing.

The rating was placed on developing watch in July.

The action follows news that Carlisle Cos. Inc. will acquire Hawk for $413 million, S&P said.

Hawk's board of directors has approved a sale of the company to Carlisle and the acquisition is expected to close by the end of the year, the agency said, subject to regulatory approvals.

S&P said it will resolve the CreditWatch listing once the transaction closes.

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