Watsco to acquire ACR Group via tender offer and merger

Watsco, Inc. and its subsidiary Coconut Grove Holdings, Inc. entered into an agreement to acquire ACR Group, Inc. through a tender offer for all outstanding common stock at $6.75 per share, followed by a merger. The deal includes sale and support agreements with ACR's executive officers and affiliates.

“On July 3, 2007, Watsco, Inc. (“Watsco”) and its wholly-owned subsidiary Coconut Grove Holdings, Inc. (“Coconut Grove”, and together with Watsco, the “Purchaser”) entered into an agreement and plan of merger (the “Agreement”) with ACR Group, Inc. (“ACR”) pursuant to which Watsco will acquire ACR.”

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