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Room air conditioner giant Fedders is looking to broaden its penetration of the indoor air-quality market via its pending acquisition of Trion, which manufactures residential and commercial air cleaners, filters, humidifiers and dust collectors.
Through a tender offer that began July 15 and runs through August 11, Fedders is buying Sanford, N.C.-based Trion's stock for $5.50 per share through a wholly owned subsidiary, TI Acquisition. After the acquisition, contingent upon Fedders' acquiring at least 80% of Trion's stock, Trion will become a Fedders subsidiary.
Sal Giordano Jr., Fedders' CEO, said Trion's line of indoor air-quality products "is complementary to Fedders' existing product line of air conditioners and dehumidifiers," as well as being "counter-seasonal" to the firm's current products. He described the planned acquisition as "strategically important to the growth of both companies."
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.