Steinway receives new bid topping Kohlberg's offer

Associated Press
Steinway receives new bid topping Kohlberg's offer

In this Oct. 31, 2011 file photo, an 1877 Steinway grand piano used by Motown artists is seen in a Motown recording studio in Detroit. Steinway Musical Instruments Inc. says an investment firm has offered to pay about $477 million for the piano maker, topping an earlier bid from Kohlberg & Co. The prospect of a bidding war sent Steinway shares up 8 percent to $39.10 in premarket trading Monday, Aug. 12, 2013. (AP Photo/Detroit News, David Coates) DETROIT FREE PRESS OUT; HUFFINGTON POST OUT ; MAGS OUT; MANDATORY CREDIT

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