Seeking Alpha

Paulson & Co. to acquire Steinway Musical Instruments for $40/share

  • On Monday, Steinway (LVB) said it had received a $38/share bid, which led to it cancel its $35/share deal with Kohlberg & Co.
  • Shares traded above $39 on Monday, but settled at $38.27 yesterday.
  • Today's agreement has no go-shop period, but Steinway "is permitted to respond to unsolicited offers in certain circumstances, and ultimately, to accept a superior proposal until the closing of the tender offer," which starts within 5 business days and lasts for 20 days.
  • Source: Press Release
From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs