GenTek To Go Private In $411M Sale To Equity Firm

Law360, New York (September 28, 2009, 1:50 PM EDT) -- A subsidiary of private equity firm American Securities LLC will acquire chemical manufacturer GenTek Inc. for $411 million in a tender offer cash-for-stock exchange.

The tender offer will price GenTek stocks at $38 per share, a 41 percent premium on the company's closing price of $27 the previous week, GenTek said Monday.

The company expects the exchange to begin Oct. 9 and to expire 20 business days later.

American Securities' ASP GT Acquisition Corp., the investment fund management subsidiary making the acquisition, will also acquire about...
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