Tecumseh Products (TECU) Reports Q2 EPS of $0.09
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Tecumseh Products (TECU) Enters $123M Takeover Agreement
August 5, 2015 8:59 AM EDTTecumseh Products (NASDAQ: TECU) in conjunction with Mueller Industries, Inc. (NYSE: MLI) ("Mueller Industries") and Atlas Holdings LLC ("Atlas Holdings"), today announced that they have entered into a definitive merger agreement under which an affiliate of Mueller Industries and Atlas Holdings will acquire Tecumseh in a transaction valued at approximately $123 million, including the assumption of net debt. The offer price of $5.00 per share in cash reflects a 155% premium based on Tecumseh's closing price of $1.96 per share on August 4, 2015.
The proposed transaction would bring together Tecumseh, an iconic brand with... More
