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  • steve_382 steve_382 Oct 7, 2011 9:02 AM Flag

    Buyout Announcement

    Not as good as I hoped, but here it is. I still think the share price has been manipulated over the last few months to pull this off at this price.

    GRAND PRAIRIE, Texas, Oct. 7, 2011 /PRNewswire/ -- Litex Industries, Limited ("Litex"), today announced that the Board of Directors of Craftmade International, Inc. ("Craftmade"; OTCQX: CRFT) has agreed to recommend a cash tender offer in which Litex's subsidiary, Litex Acquisition #1, LLC, will offer to purchase all outstanding shares of Craftmade's common stock for a price of $4.25 per share. The offer is expected to be initiated on or about October 11, 2011, and the offer and withdrawal rights are scheduled to expire at 5:00 P.M., New York City time, on or about November 8, 2011, unless the offer is extended. Craftmade's favorable recommendation is subject to certain conditions.

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