Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Armstrong World Industries, Inc. > News item |
TPG begins $22.31-per-share tender offer for 8% of Armstrong's shares
By Lisa Kerner
Charlotte, N.C., Sept. 3 - Armor TPG Holdings LLC, a TPG Capital affiliate, announced it began a tender offer to purchase up to 4,435,935 shares, or about 8%, of Armstrong World Industries, Inc.'s common stock for $22.31 each.
The tender offer will expire at midnight ET on Oct. 1, according to a TPG news release.
Armstrong's shares closed at $29.21 (NYSE: AWI) on Wednesday.
The purpose of the offer is to comply with Armstrong governing documents following Armor's acquisition of 7 million shares of Armstrong's common stock as well as an economic interest in approximately 1 million additional shares of the company's stock from the Armstrong World Industries Inc. Asbestos Personal Injury Settlement Trust.
The information agent for the tender offer is Georgeson Inc. (888 219-8353).
Armstrong is a Lancaster, Pa.-based flooring products maker.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.