Harvey, MyerEmco Push Back Closing Date
Harvey Electronics announced Wednesday that it plans to push the closing of its acquisition of MyerEmco, Inc. to Aug. 10, from its planned date in July. No reason was given for the delay.
The New York-based Harvey Electronics in May announced the impending acquisition of the Washington, D.C.-based MyerEmco AudioVideo chain, in a transaction that would likely double Harvey’s size. Under the agreement, all current stores will retain their current brand names, but will be part of a new parent company overseen by current MyerEmco President and COO Gary Yacoubian.
A filing with the Securities and Exchange Commission at the time of the agreement listed a purchase price of $10 million for “all of the issued and outstanding shares of capital stock of MyerEmco.”