Hardinge, Inc. Acquired by Privet Fund Management LLC.

ELMIRA, N.Y. (18 NEWS) - Hardinge, Inc. announced Monday that it will merge with Privet Fund Management LLC. 

Hardinge, Inc., an international of advanced metal-cutting solutions, was acquired by Privet for $18.50 a share and a grand total of $245 million.

Privet Fund Management LLC is a private investment firm focused on investing in small capitalization companies. 

Christopher Disantis, Chairman of Hardinge, released the following statement:"We are pleased to have successfully negotiated a transaction at this robust point in the business cycle that we believe is in the
best interests of the shareholders. The Committee, with the assistance of our financial and legal
advisors, carefully analyzed Privet's offer and came to this conclusion after thorough consideration
and extensive negotiation. The transaction provides significant value and liquidity for our
shareholders, as well as continuity and opportunities for future growth for our employees, and a full
opportunity to market test the price in a rigorous go-shop process."


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