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Italy: Armchair maker cozies-up to buyout

 |  February 6, 2014

Italian armchair manufacturer Poltrona Frau has reportedly inked a deal to be acquired by US furnisher maker Haworth, say reports.

Haworth is set to buy a majority stake in the Italian company before a full acquisition. Reports say the acquisition will delist Poltrona Frau from the Milan stock exchange.

The parties did not confirm the total value of the deal, but reports estimate it to be worth about $326 million.

Full Content: Reuters

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