Synalloy Revises Valuation Of Eastern Offer - Quick Facts

(RTTNews) - Synalloy Corp. (SYNL) announced that on February 3, 2015, the company's President and CEO, Craig Bram, delivered an overnight letter to Eastern Company CEO, Leonard Leganza. In the letter, Bram requested for a second time, the opportunity to meet with Leganza to discuss the possible combination of their respective companies. Synalloy also revised upward its valuation of Eastern from its initial indication of $19.12 per share to $21.00 per share.

Synalloy stated that the company is prepared to make an all cash proposal if that is preferable to the Eastern Board.