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Armtek Corp. accepted a sweetened $561.2-million buyout...

Armtek Corp. accepted a sweetened $561.2-million buyout offer from its once-hostile suitor Mark IV Industries Inc., ending a brief battle for the auto parts maker. Under the agreement, which was approved unanimously by Armtek’s board, the Mark IV subsidiary MIV Acquisition Inc. will pay $46 a share for all 12.2 million common shares outstanding, $2 a share higher than its previous offer. The bidding for Armtek began earlier this summer with a $40-a-share offer from Mark IV. It was raised to $44 a share on Aug. 17.


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