L.S. Starrett Company Enters Merger Agreement In Go-private Transaction

(RTTNews) - The L.S. Starrett Company (SCX) has entered into a definitive merger agreement in a go-private transaction with an affiliate of MiddleGround Capital in an all-cash transaction for $16.19 per share. Following completion, Starrett will become a wholly owned subsidiary of MiddleGround and Starrett's Class A common stock will no longer be listed on any public market.

Douglas Starrett, CEO, said: "Following comprehensive outreach to potential parties, our Board of Directors determined that MiddleGround is the right partner for Starrett because of its deep knowledge within the manufacturing industry."