By Lisa Kerner
Charlotte, N.C., June 25 - Spear & Jackson, Inc. agreed to be taken private by its majority stockholder, United Pacific Industries Ltd., for $1.96 per share.
Under the agreement, Pantene Global Acquisition Corp. will merge with Spear & Jackson, with Pantene Global the surviving corporation. Pantene Global is a subsidiary of United Pacific's wholly owned subsidiary Pantene Global Holdings Ltd.
The closing is conditioned upon shareholder approvals and other customary closing conditions, according to a company news release.
Spear & Jackson is a Sheffield, England-based premium tool manufacturer.
| Acquirer: | United Pacific Industries Ltd.
|
| Target: | Spear & Jackson, Inc.
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| Price per share: | $1.96
|
| Announcement date: | June 25
|
| Expected closing: | Upon approvals
|
| Stock price for target: | OTC: SJCK.PK: $1.47 on June 22
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