Steinway Musical Instruments gets a better offer from investment firm Paulson & Co., a month after agreeing to be acquired by Kohlberg. The new transaction with Paulson is valued at approximately $512 million.
steinway musical instruments
Steinway Musical Instruments, Inc. and investment firm Paulson & Co. Inc. today they have entered into a definitive merger agreement for the acquisition of the company in a transaction valued at approximately $512 million.
Steinway Musical Instruments Inc. announced that it has reached an agreement in principle to sell its band division to an investor group led by two current directors of the company: Dana Messina, former CEO, and John Stoner, Conn-Selmer President.