Direct marketing company Specialty Catalog Corp., South Easton, MA, plans to terminate its $21.8 million agreement to be taken over by privately held Golub Associates Inc. and its affiliates.
Although financing had been arranged, the agreement was mutually terminated because other conditions could not be satisfied on a timely basis, the company said in a statement.
The deal, originally announced in December, called for Specialty Catalog shareholders to get $5 a share in cash.
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