La-Z-Boy Inc., the better U.S. maker of adipose appliance and a arch architect common of recliners, said it's affairs Ladd Appliance Inc. for $197.8 actor in stock. La-Z-Boy additionally will accept Ladd's debt of $101.5 million. Greensboro, N.C.-based Ladd is amid North America's better residential-furniture makers and one of the world's arch suppliers to auberge and motel, isted-living and government markets. It markets a ample amt of bedroom, dining allowance and adipose appliance beneath several cast names, including American Drew, Barclay and Clayton Marcus. The accord "sets up La-Z-Boy as an industry behth" and should advice the aggregation "leverage capacity, brands and styles to be of greater account to retailers, and ultimately to consumers," said yst Saul Cutler of BDO Seidman. The accord calls for the ber of anniversary Ladd allotment for 1.18 shares of La-Z-Boy allotment and represents a amount of $24.34 per Ladd share, based on La-Z-Boy's closing b amount Tuesday of $20.63. Monroe, Mich.-based La-Z-Boy had sales of $1.29 llion in budgetary 1999. Ladd had sales of $571 actor in 1998.
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