So What Happened to the Armstrong Auction?

New York, NY, July 25, 2007--Is anyone still interested in buying Armstrong World Industries?

According to deal.com, several rumored suitors, including buyout firm Kravis Roberts & Co., Mohawk Industries, and forest products firm Koch Industries Inc., have all dropped out of the bidding.

Armstrong had sales of $3.45 billion last year and has 39 plants worldwide.

Citing unnamed sources, deal.com said Armstrong has been on the block for about five months. It said private equity firm Carlyle Group may still be interested but the company refused to comment.

Another unnamed source said a couple of additional bidders emerged at the last minute, which has disrupted the process.

Earlier this year, Armstrong said it had hired advisory investment banker Lazard for strategic advice.

Armstrong filed for Chapter 11 protection in 2000 as a result of asbestos litigation. It emerged from bankruptcy in 2006, creating a $1.8 billion trust fund to handle asbestos claims.

Related Topics:Mohawk Industries, Armstrong Flooring

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