Swedlow Signs Expected Agreement to Be Acquired
Swedlow Inc., as expected, said Tuesday that it has signed an agreement to be acquired by Pilkington Holdings Inc., a wholly owned subsidiary of Pilkington Brothers PLC, a British glassmaker. The deal calls for Pilkington to pay $32.60 per share, or $42.3 million, for Swedlow, a Garden Grove-based plastics manufacturer specializing in military aircraft canopies and windows. Swedlow said company shareholders will be asked to vote on the agreement Dec. 18.
The acquisition--originally announced Monday--was arranged after the Federal Trade Commission held up for more than a year a similar buy-out offer by PPG Industries Inc., claiming that the giant domestic glassmaker would monopolize the aircraft transparencies market if it owned Swedlow.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.