J-M Manufacturing Co. and PW Eagle Inc., manufacturers of plastic pipe, fittings and tubing products, announced Tuesday the two companies have signed a definitive merger agreement.
J-M Manufacturing will acquire all of the outstanding common shares of PW Eagle for $33.50 per share in cash, valuing PW at about $400 million.
Headquartered in Livingston, N.J., J-M Manufacturing operates 14 plastic pipe manufacturing facilities. PW Eagle, based in Eugene, Ore., operates 12 plastic pipe manufacturing facilities in eight states.
The transaction is expected to be completed during the second quarter of 2007, subject to customary closing conditions, including the receipt of regulatory approvals, and approval by PW Eagle's shareholders.
