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Old 08-12-2013, 07:58 PM
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Default Re: Ludwig's parent company sold

A new wrinkle was reported today:
WALTHAM, Mass. A new bid to buy a legendary piano maker could be music to the ears of its shareholders.

Steinway Musical Instruments Inc. said Monday that an investment firm has offered to pay $38 per share, or about $477 million, for the company. That tops an earlier bid of $438 million, from Kohlberg & Co.

Kohlberg has until Wednesday to negotiate with Steinway and lay out a better bid. Otherwise, the deal between it and Steinway will be terminated and the musical instruments maker will agree to be bought by the other firm.
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