Tarkett Sommer AG Offers To Buy Domco Tarkett Outs

Farnham, Quebec, May 1-- Domco Tarkett’s board of directors has set up a special committee to consider an offer by Tarkett Sommer AG, the company’s major shareholder, to purchase all the outstanding shares of Domco Tarkett it does not already own. Tarkett Sommer’s cash offer, which is for C$7.50 per share represents a 43% premium over the company's April 29 close of C$5.25 on the Toronto Stock Exchange. Tarkett Sommer currently owns 18.9 million shares, or 74.5%, of Domco’s 25.4 million outstanding shares. The value of the deal is about C$49 million. The special committee set up by Domco’s board of directors is comprised of Robert Arcand, John B. Claxton, Claude Lemire and Alphonse Lepage. Domco Tarkett said that the intended offer by Tarkett Sommer AG will have no impact on the normal course of business. Should the offer be successful, Domco Tarkett would become a private company.