Mohawk Industries Becomes Worldwide Leader In Ceramic Tile

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>>Last week, Mohawk Industries (MHK) finally announced the acquisition of Marazzi Group, the fifth largest producer, in volume, in the ceramic tile industry. The combination of Mohawk's existing ceramic tile division, Dal Tile, and Marazzi Group creates the largest ceramic tile company in the world as far as revenues.

The first rumors about the deal spread out about one month ago, when the Italian financial magazine "Il Mondo" reported that advanced negotiations were in the works (link, in Italian). Seeking Alpha was the first English speaking source to talk about the deal, also supplying added information about the acquisition target, soon followed by Reuters and other news feeds.

The market reacted positively to the acquisition, and the stock gained 4.88% on Friday, on a down day for most securities.