Nortek, Inc, parent company for Linear, has announced that it has signed an agreement and plan of merger with UK-based Melrose Industries. “We are very pleased to have reached the proposed agreement with Melrose Industries, which represents a significant premium for our shareholders,” said Nortek’s President and Chief Executive Officer Michael J. Clarke. “We believe this partnership with Melrose will enhance Nortek’s ability to further leverage its industry-leading brands and market positions to continue driving profitable growth. We believe this transaction will be a positive for our employees and customers alike.”
Read the complete press release here.