IBJNews

Execs at Chromcraft Revington enter talks to buy firm

Back to TopCommentsE-mailPrintBookmark and Share

Executives at Chromcraft Revington Inc. are in negotiations to buy the West Lafayette-based furniture maker in a tentative deal that values the company at $5 million.

The firm announced Thursday that “certain members of its management team” are interested in acquiring the company. Chromcraft has entered into a non-binding letter of intent and term sheet with RMMJ LLC, a company led by Ronald H. Hunter, Chromcraft's chairman and CEO, according to a prepared statement.

Under the terms contemplated by the parties, a subsidiary of RMMJ would merge with Chromcraft, with Chromcraft then becoming a subsidiary of RMMJ. They estimate the value of the company at $5 million, with record stockholders receiving cash for common shares in the potential purchase.

The company stressed Thursday that there was no definitive agreement and that the terms could change.

Earlier this month, the firm foreshadowed its intentions to go private by announcing that it would delist its common stock from the New York Stock Exchange, as well as suspend its reporting obligations as a public company.

The company also said on Thursday that it has violated U.S. securities rules by failing to file a 2012 annual report with the Securities and Exchange Commission by an April 16 deadline. The company now expects to file the report on or before May 31.
 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. Those of you yelling to deport them all should at least understand that the law allows minors (if not from a bordering country) to argue for asylum. If you don't like the law, you can petition Congress to change it. But you can't blindly scream that they all need to be deported now, unless you want your government to just decide which laws to follow and which to ignore.

  2. 52,000 children in a country with a population of nearly 300 million is decimal dust or a nano-amount of people that can be easily absorbed. In addition, the flow of children from central American countries is decreasing. BL - the country can easily absorb these children while at the same time trying to discourage more children from coming. There is tension between economic concerns and the values of Judeo-Christian believers. But, I cannot see how the economic argument can stand up against the values of the believers, which most people in this country espouse (but perhaps don't practice). The Governor, who is an alleged religious man and a family man, seems to favor the economic argument; I do not see how his position is tenable under the circumstances. Yes, this is a complicated situation made worse by politics but....these are helpless children without parents and many want to simply "ship" them back to who knows where. Where are our Hoosier hearts? I thought the term Hoosier was synonymous with hospitable.

  3. Illegal aliens. Not undocumented workers (too young anyway). I note that this article never uses the word illegal and calls them immigrants. Being married to a naturalized citizen, these people are criminals and need to be deported as soon as humanly possible. The border needs to be closed NOW.

  4. Send them back NOW.

  5. deport now

ADVERTISEMENT