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Article: Earl Scheib Signs Letter of Intent to Be Acquired by Elden Holding Group, LLC.
- Article from:
- Business Wire
- Article date:
- May 20, 2004
CopyrightCOPYRIGHT 2004 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
SHERMAN OAKS, Calif.--(BUSINESS WIRE)--May 20, 2004
The Board of Directors of Earl Scheib, Inc. (AMEX:ESH) (the "Company") approved the execution of a Letter of Intent with Elden Holding Group, LLC ("Elden"), a private real estate investment company whereby Elden will acquire all of the Company's issued and outstanding capital stock for approximately $15,000,000 (the "Purchase Price"), plus assumption of certain transaction and related costs estimated at over $2,000,000. Elden has received a preliminary financing commitment from Kimco Realty Corporation (NYSE:KIM) to provide acquisition financing. The Company currently has approximately ...
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