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Firm buys Samsonite
Top Headlines Mansfield has been the company's North American headquarters since it moved into the Cabot Business Park 18 months ago. Samsonite has agreed to be bought by CVC Capital Partners Ltd., a London-based private equity company. The deal is expected to close during the fourth quarter. Samsonite President of the Americas Tom Korbas was unavailable for comment Thursday. The price of $1.49 a share is a 12 percent premium from the company's closing price Tuesday on the Over-the-Counter Bulletin Board. Samsonite had about 742.1 million shares outstanding as of June 8, according to a filing with the Securities and Exchange Commission. Including the assumption of debt, the deal is worth about $1.7 billion. Samsonite moved 120 jobs to the Mansfield industrial park from Warren, R.I., in December 2005 after Mansfield voters approved a five-year, $285,789 tax break at a special town meeting held on Dec. 6, 2005. The headquarters at 575 West St. in the Cabot Business Park opened during a June 21, 2006, ribbon cutting attended by then-Gov. Mitt Romney and other state and local officials. At that time, Samsonite pledged to add 22 jobs over the next three years. Material from the Associated Press was used in this report.
Post Your Comments YAYAYA wrote on Jul 6, 2007 8:01 PM: " They should also rearrange the town departments while they are at it. Its the worse highway department i have ever seen. one old guy that bust his butt and they all watch him. " Anon wrote on Jul 6, 2007 1:24 PM: " Yeah, with all the tax breaks the town has to give to attract new businesses it'l be great to be a taxpayer in Mansfield. " HaHa wrote on Jul 6, 2007 10:27 AM: " An arts center paid for by all the state's taxpayers and a world headquarters for a capital firm.
Too bad other towns. " or
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