More on the Myers-GS Capital deal
GS Capital Partners' proposed $1.07 billion buy-out of Myers Industries Inc. includes the assumption or repayment of $276 million in debt.
Yesterday, April 24, it was announced that GS Capital -- a division of Goldman, Sachs & Co. -- intends to acquire all of Myers' outstanding common stock for $22.50 a share.
Under the agreement. Myers may solicit competing proposals for third parties over the next 45 days.
However, the Akron, Ohio-based company "advises that there can be no assurance that the solicitation of proposals will result in an alternative transaction."
Certain members of the Myers family and their affiliates have agreed to vote their shares, approximately 19%, in favor of selling to GS Capital.