Armstrong Has No Opinion on Low Tender Offer
Lancaster, PA, Sept. 15, 2009--Armstrong World Industries said it has no opinion as to whether the company's stockholders would benefit by taking advantage of a tender offer by Armor TPG Holdings LLC to purchase up to 4,435,935 shares of Armstrong common stock for $22.31 per share.
"The Board has determined that a shareholder’s decision on whether or not to tender shares in the Offer is a personal investment decision based upon each individual shareholder’s particular circumstances," Armstrong said in a public filing with the Securities and Exchange Commission.
Armstrong shares have been trading recently about $12 higher than the tender offer.
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