Shareholders approve Interline Brands acquisition
JACKSONVILLE, Fla. (AP) — Interline Brands Inc., a Florida-based distributor of products used by locksmiths, hardware companies and professional contractors, said Wednesday its shareholders have approved its proposed acquisition by private equity firms.
In May the company agreed to be acquired by GS Capital Partners LP, an affiliate of the investment firm Goldman Sachs, and P2 Capital Partners LLC, a New York-based investment firm, for about $810.9 million in cash.
Under terms of the deal, Interline stockholders will receive $25.50 per share in cash for each share they own at the close of the deal.
The deal is expected to close during the first two weeks of September. After that, shares will no longer be publicly traded.
Shares of the company closed up 2 cents at $25.48.