American Biltrite currently owns 4,395,605 Class B and 44,100 Class A common shares of Congoleum which, on a combined basis, represent a 54% economic interest and a 69% voting interest.
American Biltrite authorizes Congoleum share purchase
WELLESLEY HILLS, Mass. – The board of directors of American Biltrite Inc. has authorized the purchase, from time-to-time, of as much as $5 million of the outstanding Class A common shares of Congoleum Corp. The stock would be purchased either in the open market or in privately negotiated transactions, depending on market conditions and other factors.
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