After Gibson Offer, DEI Agrees to Charlesbank Purchase
DEI Holdings said Sunday that it has agreed to be acquired by Charlesbank Capital Partners at a price of $4.45 - $4.47 per share, pending final approval on Monday.
The decision came after DEI received a takeover offer from Gibson Guitar Corp., after which Charlesbank agreed to increase its bidding price, DEI said in a statement.
"The DEI Holdings Board of Directors, after consultation with its independent financial advisor and outside legal counsel, determined that acceptance of Charlesbank's increased price is advisable and in the best interests of the company's shareholders," the company said. "As a result, DEI Holdings entered into an amendment to the merger agreement with Charlesbank."