WHX completes acquisition of Bairnco

By Lisa Kerner

Charlotte, N.C., April 24 - WHX Corp.'s wholly owned subsidiary, BZ Acquisition Corp., has merged with and into Bairnco Corp., according to a company news release.

Bairnco, the surviving corporation, is now a wholly owned subsidiary of WHX, and Bairnco stock will no longer be publicly traded.

On April 16, WHX announced completion of its cash tender offer for the outstanding shares of Bairnco for $13.50 per share.

Steel Partners II, LP, a New York-based hedge fund, had signed an agreement to acquire Bairnco in February but later transferred its interest in BZ Acquisition to affiliate WHX.

Located in Lake Mary, Fla., Bairnco manufactures high-technology materials for the printed circuit board industry and replacement bank saw products for the food service industry.

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