Norton Agrees to $1.9-Billion Takeover: Norton Co....
From Times Staff and Wire Reports
Norton Agrees to $1.9-Billion Takeover: Norton Co. accepted a friendly $1.9-billion merger offer from Compagnie de Saint-Gobain of France, thwarting a rival hostile bid from a British conglomerate. The $90-a-share bid by Saint-Gobain, a French maker of fiberglass and industrial ceramics, surpasses the $75-a-share tender offer made by BTR PLC of Britain. BTR’s bid was worth about $1.64 billion. Worcester, Mass.-based Norton is a leading manufacturer of machine abrasives.
