The major shareholder of vinyl and hardwood flooring producer Domco Tarkett Inc. plans to buy the rest of the Domco shares it does not own.
Tarkett Sommer AG of Frankenthal, Germany, is offering C$7.50 (US$5.25) per share in a deal worth about C$49 million (US$34.3 million). Tarkett now owns 74.5 percent of Domco. Domco's closing share price was C$5.25 (US$3.68) on April 29, the day before Tarkett announced its offer. Domco has appointed a committee to evaluate the offer for the Farnham-based company.