Kohlberg to take Steinway Musical private in $438 mln deal
July 1 (Reuters) - Steinway Musical Instruments Inc said it would be acquired by private equity firm Kohlberg & Co in a deal valued about $438 million.
The 160-year-old manufacturer of pianos, saxophones and trumpets said Kohlberg offered $35 per share in cash, a premium of 15 percent to Steinway's Friday close of $30.43.
- Seven NATO allies to create new rapid reaction force-report
- Ukraine seeks to join NATO; defiant Putin compares Kiev to Nazis |
- U.S. authorities investigate suspected threat against Obama: reports
- Putin says Russia must strengthen its economic, military position in Arctic
- California passes 'yes-means-yes' campus sexual assault bill