Masco deal axed. (acquisition of Masco Corp.'s home furnishings subsidiary by Morgan Stanley Capital Partners)(Brief Article)
HFN: The Weekly Newspaper for the Home Furnishing Network, January, 1996
TAYLOR, Mich. - Masco Corp. and Morgan Stanley Capital Partners have agreed to call off the investment group's plan to purchase Masco's Home Furnishings Group.
Masco and Morgan Stanley didn't give reasons for terminating the deal.
Masco issued a statement last week saying it intends to proceed with plans to find a buyer for its home furnishings businesses and continues to believe it will obtain a value for these businesses in excess of $1 billion.
Masco said several potential investors have continued to express significant interest in acquiring the group, and the group's operating results through November "have equaled or exceeded Masco's estimates provided to prospective purchasers prior to Masco's agreement" with Morgan Stanley Capital. ...
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