Parent company of Elkhart-based Conn-Selmer sold - Fox 28: South Bend, Elkhart IN News, Weather, Sports

Parent company of Elkhart-based Conn-Selmer sold

Posted:

Steinway, the company best known for its pianos and the parent company of Elkhart-based Conn-Selmer, is being sold for $499 million.

Investment firm Paulson & Co. bid $40 a share for Steinway, outbidding Kohlberg & Co. by $3 a share.

Steinway, which is being taken private, will have to pay a Kohlberg & Co. a termination fee of about $6.7 million. Paulson will open a tender offer for shares of Steinway Musical Instruments Inc. within the next five days.

Selmer Industries acquired Steinway Musical Properties in 1995. The company changed names and in August 1996 issued an IPO as Steinway Musical Instruments.

Conn-Selmer operates several production facilities across the country, including one in Elkhart.  

The Associated Press contributed to this story

  • Most Popular StoriesMost Popular StoriesMore>>

  • Brey: Grant still plans to return to ND

    Brey: Grant still plans to return to ND

    After being suspended from Notre Dame in January, there was some concern whether or not shooting guard Jerian Grant would in fact return to campus or forgo his eligibility and enter the NBA draft. Wednesday Notre Dame head coach Mike Brey put to rest any rumors that Jerian would declare for the draft.More >>
    After being suspended from Notre Dame in January, there was some concern whether or not shooting guard Jerian Grant would in fact return to campus or forgo his eligibility and enter the NBA draft. Wednesday Notre Dame head coach Mike Brey put to rest any rumors that Jerian would declare for the draft.More >>
  • Timeline of violence in South Bend

    Timeline of violence in South Bend

    Seven people have been killed in South Bend since the beginning of this year.  They aren't just another statistic, though.  They are people that have real families who are suffering.  The first victimMore >>
    Seven people have been killed in South Bend since the beginning of this year.  They aren't just another statistic, though.  They are people that have real families who are suffering.  The first victimMore >>
  • Notre Dame gets verbal commit #7

    Notre Dame gets verbal commit #7

    The Notre Dame football team got verbal commitment #7 from Cary-Grove, IL recruit Trevor Ruhland. According to Irish Sports Daily, he tips the scale at 270 and stands 6'4". He chose the Irish over Duke, Illinois, Minnesota, Nebraska and Purdue. Ruhland is considered a 3-Star recruit by many services.More >>
    The Notre Dame football team got verbal commitment #7 from Cary-Grove, IL recruit Trevor Ruhland. According to Irish Sports Daily, he tips the scale at 270 and stands 6'4". He chose the Irish over Duke, Illinois, Minnesota, Nebraska and Purdue. Ruhland is considered a 3-Star recruit by many services.More >>
Powered by WorldNow

Fox 28

WSJV-TV FOX 28
58096 County Road 7, South
Elkhart, IN 46517

Switchboard: 574.679.9758
News Phone: 574.679.4545
Station Fax: 574.294.1267
Email: fox28news@fox28.com

All content ©Copyright 2000 - 2014 WorldNow and WSJV. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service and Mobile Privacy Policy & Terms of Service.

Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Administrative Assistant Heather Stewart at (574) 343-5310. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at fccinfo@fcc.gov.