Business Services Industry
The Week: August 1 - 7.(The Insider)(First Reserve Corp. buys Chart Industries Inc.)(Parker Hannifin Corp. buys Domnick Hunter Group PLC)(Brantley Capital Corp delisted)
Crain's Cleveland Business, August, 2005
The big bond: A $2 billion bond issue that would help finance public works projects and Gov. Bob Taft's Third Frontier high-tech initiative got the OK from the state Senate, thus sending the measure to voters this fall. The Senate voted unanimously, 31 to 0, in favor of putting the bond issue on the November ballot following its approval by an 84-7 vote in the House.
Charting a new course: A Connecticut private equity firm has agreed to buy Garfield Heights-based Chart Industries Inc. (OTCBB: CIDI.OB), a supplier of cryogenic equipment, for $460 million. Under terms of the deal, First Reserve Corp. would acquire all of Chart's shares outstanding for $65.74 a share, minus transaction expenses, which are expected to lop $1 to $1.50 off the price. Chart's managers...
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