Steiner Family Withdraws Dryclean USA Offer

Jason Hicks |

MIAMI — Dryclean USA has announced that the Steiner family — the company’s principal stockholders — has withdrawn a proposal it made to acquire 43% of the company’s outstanding common stock not already owned by them.
The previously announced transaction would have been structured as a merger of Dryclean USA with a company to be owned by the Steiner family. Public stockholders would have received 85 cents a share in cash, or an aggregate of approximately $2.55 million, for the approximately 3 million shares.
The Steiner family didn’t give a reason for its decision to withdraw the proposal.
 

About the author

Jason Hicks

American Drycleaner

Jason Hicks was assistant editor for American Trade Magazines, which publishes American Coin-Op, American Drycleaner and American Laundry News, for more than nine years, and web editor for three years.

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