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Piano maker Steinway bought by Kohlberg & Co (BBC)
Steinway, maker of the famous pianos, is being acquired for $438m (£288m) by the private equity firm Kohlberg & Co.
The 160-year old firm had previously announced it was looking for a buyer.
Steinway Musical Instruments also produces Bach Stradivarius trumpets, Selmer Paris saxophones, and CG Conn French horns, and holds more than 127 patents for musical instruments.
Kohlberg will pay $35 per share, 15% more than the stock's closing price on Friday of $30.43.
"Our agreement with Kohlberg represents an exceptional valuation for our shareholders," said Michael Sweeney, chairman and interim chief executive.
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more: http://www.bbc.co.uk/news/business-23134271