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American Securities acquires GenTek after $38-per-share tender offer
By Lisa Kerner
Charlotte, N.C., Oct. 29 - American Securities LLC completed its acquisition of GenTek, Inc., it was announced on Thursday.
On Tuesday, American Securities completed its $38-per-share tender offer for GenTek's shares. Approximately 9,593,530 shares representing about 93% of GenTek's common stock were tendered in the offer.
In September, GenTek agreed to be acquired by American Securities in a deal valued at $673 million including the assumption of debt.
GenTek is a Parsippany, N.J., manufacturer of industrial components and performance chemicals.
American Securities is a private equity firm with offices in New York and Shanghai.
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