Thermadyne Board Approves Sale: The directors of...

Thermadyne Board Approves Sale: The directors of Thermadyne Industries Inc. have approved an agreement to sell the company for $513 million in cash and securities. A spokesman said a new company controlled by Hicks & Haas Inc. and James N. Mills, Thermadyne Holdings Corp., will acquire Thermadyne, Materials Applications Group and Clarke Holding Corp. in a transaction valued at about $800 million. Hicks & Haas is a Dallas-based private investment firm that specializes in leveraged buyouts. Thermadyne, which makes products and accessories used in cutting and welding metal, said the merger is expected to be completed within 30 days.