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Myers will not be sold to GS Capital

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Private equity group GS Capital Partners has decided to not pursue its proposed acquisition of Myers Industries Inc., parent company of Myers Tire Supply.

As a result, Myers and GS Capital have mutually agreed to terminate their agreement and plan of merger, dated April 27, 2007.

"Myers Industries continues to focus on its sound business growth plan and fundamentals directed at sustainable, profitable growth," say Myers officials.

GS Capital originally planned to buy Myers for $1.1 billion.

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