By Lisa Kerner
Charlotte, N.C., April 4 - Merisel, Inc. said it agreed to be acquired by Tu Holdings, Inc., an affiliate of American Capital Strategies, Ltd., for $5.75 per share in cash, or some $46 million.
Stonington Partners, LP, a 60% shareholder, agreed to vote in favor of the transaction, according to a Merisel news release.
Merisel, a New York visual communications solutions company, expects the transaction to close in the second quarter.
The agreement includes a $2.5 million termination fee.
Merisel was advised by Robert W. Baird & Co. and Houlihan, Lokey Howard & Zukin Financial Advisors, Inc.
| Acquirer: | American Capital Strategies, Ltd.
|
| Target: | Merisel, Inc.
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| Announcement date: | April 4
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| Transaction total: | $46 million
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| Price per share: | $5.75
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| Expected closing: | Second quarter of 2008
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| Stock price for target: | Other OTC: MSEL.PK: $5.50 on April 3
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