Watsco and ACR Group execute definitive merger agreement ($6.75/share tender offer)

Watsco and ACR Group executed a definitive merger agreement under which Watsco will acquire ACR's stock via a cash tender offer of $6.75 per share, a 42% premium. Houlihan Lokey advised ACR. Close expected August 2007.

“Watsco, Inc., Miami, and ACR Group, Inc., Houston, announced that they have executed a definitive merger agreement under which Watsco will seek to acquire ACR’s outstanding common stock in a cash tender offer of $6.75 per share.”

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