Wed, Aug. 5, 10:07 AM
- Tecumseh Products (TECU +152.5%) agrees to be acquired by an affiliate of Mueller Industries (MLI +1.3%) and Atlas Holdings in a transaction valued at ~$123M, including the assumption of debt.
- The $5/share cash offer price represents a 155% premium over yesterday's TECU closing price.
- TECU says the proposed deal would bring together its global footprint and market-leading positions with new owners who will contribute market expertise and capital.
Jan. 23, 2013, 1:40 PMTecumseh Products (TECUA +8.5%) pops after saying that over the past several months it's been working with Sagent Advisors to explore various strategic alternatives, including the possible sale of the Company. Contrary to rumors, however the company it hasn't received an offer at an $8 per share purchase price. | Jan. 23, 2013, 1:40 PM | Comment!
Tecumseh Products Co is a manufacturer of hermetically sealed compressors for residential and specialty air conditioning, household refrigerators and freezers and commercial refrigeration applications.
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