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Article: Carlyle Group proposes friendly merger with Fairchild Industries.
- Article from:
- PR Newswire
- Article date:
- December 20, 1988
CopyrightCOPYRIGHT 1988 PR Newswire Association LLC. 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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CARLYLE GROUP PROPOSES FRIENDLY MERGER WITH FAIRCHILD INDUSTRIES
WASHINGTON, Dec. 20 /PRNewswire/ -- The Carlyle Group, as general partner of Carlyle Investors VI, L.P., has today proposed to the board of directors of Fairchild Industries Inc. (NYSE: FEN) a friendly merger with Fairchild under which each Fairchild shareholder would receive $15.50 in cash upon completion of the merger.
The proposed purchase price of $15.50 represents a premium of 53 percent of the closing market price per share on July 25, 1988, the date when Carlyle Investors VI began its accumulation of shares of Fairchild. The proposed purchase price also represents a premium of 16 ...