Steel Partners makes offer for Noritz
| September 12th, 2008 | ||
| Steel Partners has offered to buy-out Noritz Corp, a Japanese gas and water heater maker, for $394 million. Steel Partners currently is the company’s #1 shareholder with an 18.7% stake in the company. In a statement, the activist hedge fund vented its frustration with management and stated that its offer was largely due to Steel’s "frustration and concern over the rapidly deteriorating performance." | ||
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Steel Partners |
Related People: Joshua Schechter;
Related Entities: Steel Partners;
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles
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