Paulson had to outbid Samick and Kohlberg to nab Steinway

|About: Steinway Musical Instrume... (LVB)|By:, SA News Editor

Paulson & Co raised its bid for Steinway Musical Instruments (LVB +7.2%) because South Korean firm Samick Musical Instruments stepped into the bidding process, according to sources.

After Samick topped Kohlberg by a $1 with a $39/share offer, Paulson came in a buck higher.