Steinway bought by private equity firm for £288m
Piano maker Steinway is to be acquired by private equity group Kohlberg for $438 million (£288m).
The 160-year old firm announced it was looking for a buyer in 2011, but seemed to scupper the plans after failing to find a buyer follwing a 17-month long search last year.
However, Kohlberg & Co has since stepped up and will pay $35 per share to the company's investors - 15% more than the stock's closing price on Friday of $30.43.
"Our ...
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