November 30 - Platinum Equity seems to be a step closer to finishing its acquisition of US barge operator American Commercial Lines Inc.
Platinum Equity said that so-called "go-shop" period - a 40-day stretch in which American Commercial Lines had the opportunity to seek out higher bidsexpired at the end of last week without any better offers.
Now on December 14 shareholders will have a chance to vote on the deal, with American Commercial Lines' board having recommended that investors approve the acquisition.
The company announced last month that Platinum Equity had agreed to buy the company in a deal worth about USD777 million, including roughly USD345 million of debt.
Project cargoes are an important commodity for ACL's large fleet of tank and dry cargo barges, plus towboats.