Fedders to acquire IAQ manufacturer Trion
Fedders Corp., a maker of air conditioners and dehumidifiers, completed its acquisition of Sanford, N.C.-based Trion Inc., a manufacturer of indoor air quality products for cleanrooms, industrial/commercial and residential environments.
On July 15, TI Acquisition Corp., a wholly owned subsidiary of Fedders, commenced a tender offer to purchase all of Trion's outstanding stock for $5.50 per share in cash. The offer expired Aug. 11; Fedders owns about 89% of Trion's outstanding shares.
The merger of TI Acquisition with Trion follows the tender offer. Following the merger, Trion will continue its business as a wholly owned subsidiary of Fedders.