Matthews Intl. Completes Schawk Acquisition

(RTTNews) - Matthews International Corp. (MATW) said Tuesday that it has completed its acquisition of Schawk, Inc. (SGK)

Schawk reported sales of $443 million for 2013 and has approximately 3,600 employees in over 20 countries.

Under the terms of the deal, originally announced in March, Schawk stockholders receive $11.80 cash and 0.20582 shares of Matthews' common stock for each Schawk share held. Based on the closing price of Matthews' stock on July 28, the deal represents an implied price of $20.74 for each Schawk share.

David Schawk, who served as Chief Executive Officer of Schawk, was elected as a member of Matthews' Board of Directors.