Nortek Acquired
Submitted by advisor on Tue, 10/01/2002 - 2:03am.
Nortek, the ventilation empire (if not monopoly), parent company of Broan, Nutone, Best, Venmar, Rangeaire and holder of over 80% of the US kitchen ventilation market by units has accepted an acquisition proposal by Kelso and Company "in partnership with certain members of Nortek management including Richard L. Bready, the Chairman and Chief Executive Officer of Nortek." The completion of the acquisition requires SEC and stockholder approval. See the press release.
