Cenveo (CVO) In Deal To Acquire Nashua (NSHA)
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- Cenveo (CVO) In Deal To Acquire Nashua (NSHA)
Cenveo, Inc. (NYSE: CVO) signed a definitive merger agreement pursuant to which Cenveo will acquire all of the common shares of Nashua Corporation (Nasdaq: NSHA) in a stock and cash transaction valued at approximately $44.4 million including the assumption of Nashua debt.
Under the terms of the definitive agreement, each share of common stock of Nashua will be converted into the right to receive (i) $0.75 per share in cash and (ii) $6.13 per share in Cenveo common stock, provided, that in no event will a Nashua share be exchanged for less than 1.168 of a Cenveo share or more than 1.635 of a Cenveo share. Based on the closing price of Cenveo's common stock on May 6, 2009, the last trading day prior to the announcement, the total consideration is valued at $6.88 per Nashua share, with an implied consideration mix of approximately 89% in stock and 11% in cash.
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