Merger of Industrial Distribution, Luther King Capital one step closer to completion

By Lisa Kerner

Charlotte, N.C., Aug. 4 - The Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in the proposed merger of Industrial Distribution Group, Inc. and Luther King Capital Management Corp., a government statement said.

In April, Industrial Distribution announced it agreed to be acquired by Luther King Capital for $12.10 per share.

Industrial Distribution said its shareholders approved the merger in June.

Atlanta-based Industrial Distribution supplies maintenance, repair, operating and production products and services to manufacturers and industrial users in the United States and China.

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