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Article: Avery discussing sale of Uniroyal Chemical with management, reports results. (Uniroyal Chemical Company Inc.)
- Article from:
- PR Newswire
- Article date:
- December 29, 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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AVERY DISCUSSING SALE OF UNIROYAL CHEMICAL WITH MANAGEMENT,
REPORTS RESULTS
NEW YORK, Dec. 29 /PRNewswire/ -- Avery, Inc. announced today that it is engaged in negotiations for the sale of its Uniroyal Chemical Company subsidiary to a potential purchaser led by Uniroyal Chemical management and Drexel Burnham Lambert, Inc. These negotiations contemplate the sale of Uniroyal Chemical Acquisition Corporation (UCAC) an indirect wholly owned subsidiary of Avery and the indirect parent of Uniroyal Chemical, to the potential purchaser for a price of $800 million to $810 million, consisting of $240 million to $250 million in cash and the ...