Hello from bizjournals.com! Ralph Black (ralphbl@mindspring.com) thought you might like the following article from the Nashville Business Journal: The sender's comment about the article: This is from the Nashville Business Journal, 11/01/2001. Gibson Guitar to acquire Baldwin Piano ------------------------------------------------------------ Gibson Guitar Corp. has signed a letter of intent to buy GE Capital's rights to acquire the assets of nation's largest acoustic piano manufacturer. Financial terms of the deal have not been disclosed. GE Capital, the largest secured creditor for Baldwin Piano & Organ Co., had signed a contract Oct. 15 to obtain the Cincinnati piano maker's assets in a credit auction. Baldwin, which filed for Chapter 11 bankruptcy in May, lost $10.3 million last year on revenue of $86.1 million. In trading Nov. 1, Baldwin closed up 0.3 cents to 1 cent per share. Over the past 52 weeks, shares of the 140-year-old company have been trading at between a half cent and $5 each. Once the deal is complete, Baldwin will join Nashville-based Gibson's roster of branded instruments that include Epiphone, Kramer, Singlerland Drums, Oberheim Keyboards and Maestro effects. In the most recent information available, Gibson had revenue of $200 million in 1998. Copyright(c) American City Business Journals Inc. All rights reserved. You can view this article on the web at: http://nashville.bcentral.com/nashville/stories/2001/10/29/daily27.html
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