Thursday, May 5, 2011

'Ace' Greenberg Tries to Trade Up

The board of directors of Charter-Crellin Inc., a plastic products manufacturer with manufacturing headquarters in Chatham, has approved a tender offer for all of its 1.5 million shares of stock in a deal valued at close to $42 million. The company last week began mailing information to its shareholders recommending they approve the takeover by an affiliate of Golder, Thoma & Cressey and Nicholas, Feder & Jaffe Inc., a Chicago investment firm. The tender offer will expire April 3. GTC/NFJ Plastics Acquisition Corp. made its $27-a-share offer last month following several months of active search by Charter-Crellin for a buyer. (excerpt)

Full text: Capital District Business Review, Mar 13, 1989

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