“Steinway Musical Instruments Inc. (LVB) agreed to be acquired by Paulson & Co., the hedge fund owned by billionaire John Paulson, in a deal valuing the 160-year-old piano maker at about $512 million. The piano maker that gave the company its name was founded in 1853 by German immigrant Henry Engelhard Steinway in a Manhattan loft on Varick Street, and over the following decades became a brand recognized worldwide. The company was bought by saxophone maker Selmer Industries in 1995 and taken public the following year. They expanded through acquisitions and faced declines in sales during the recession.”
http://www.bloomberg.com/news/2013-08-14/paulson-co-to-buy-piano-maker-steinway-for-512-million.html
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