In Brief: Graham-Field
This article was originally published in The Gray Sheet
Executive Summary
Graham-Field: Durable medical equipment manufacturer/distributor completes proposed acquisition of Fuqua Enterprises, the company reports Dec. 31. Under terms of the deal, announced on Sept. 5 ("The Gray Sheet" Sept. 15, I&W-6) and revised on Sept. 29, Fuqua receives 2.1 mil. shares of Graham-Field common stock in a tax-free exchange for each common share of Fuqua, which prior to completion of the merger had approximately 4.5 mil. shares outstanding. As part of the deal, Graham-Field gains Irving Tanning Company, a $135 mil. Fuqua subsidiary, which Graham-Field says "does not fit into the long-term strategic business plans" of the company and will be treated as an asset held for sale...