Burlington Industries hinted that it may go private.
The nation’s largest textile company said it has begun “preliminary discussions with third parties concerning possible restructuring transactions.” The company is seeking to elude a takeover by Canada’s biggest textile concern, Dominion Textile, and New York-based investor Asher B. Edelman. It added that the parties included “certain leveraged buyout groups, and any transaction with such a group may involve members of (Burlington) management,” which could take the firm private.
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.