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Myers Industries sale on schedule


Published : Fri, 30 Nov 2007 21:10
By : Agencies
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AKRON, Ohio (AP) - Polymer manufacturer Myers Industries Inc. said Friday it is still on schedule to complete its sale to GS Capital Partners IV L.P., a unit of Goldman Sachs Group Inc., by the end of the year.

GS Capital will pay about $1.1 billion including the assumption of debt. Myers Industries shareholders will receive $22.50 per share in cash for the sale.

Shares of Myers Industries shot up $1.85, or 10.2 percent, to $19.92 following the announcement after trading below Thursday's close most of Friday.

Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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