The transaction between the publicly traded firms is expected to close in the fourth quarter. The deal gives Steelcase entry into the corporate menu and merchandising boards market.
Alpine Group Inc. of New York, PolyVision's principal common shareholder and the sole owner of PolyVision's Series B and C preferred shares, is agreeing to vote its shares in the deal.
Alpine owns 48% of PolyVision's outstanding common and 100% of the series B and C convertible preferred.
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