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Industry: Email Alert RSS FeedSEC filing says Schick to buy Reeves at $250.4M.
Daily News Record, May, 1986 by Robertshaw, Nicky
SEC Filing Says Schick To Buy Reeves at $250.4M
In order to acquire Reeves Brothers, Inc., Schick, Inc., is paying out $164.4 million of Reeves stock, and another $88 million to finance the textile firm's existing long-term debt, according to a filing with the Securities and Exchange Commission. Schick sets the total purchase price at $250.4 million, according to the filing.
Schick acquired 80 per cent of Newreeveco, Inc., the firm that acquired Reeves Brothers May 6, 1982, through its subsidiary, A.R.A. Manufacturing Co. of Delaware, Inc., according to the filing. A.R.A. paid $15 million for the 80 per cent equity interest, while certain members of Newreeveco management acquired a 20 per cent equity for $5 million in cash and stock contributions,...
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