Staying Informed

The Deal: Mac-Gray Surges on $524 Million Sale to CSC ServiceWorks

NEW YORK (TheStreet) -- Mac-Gray TUC was surging Tuesday as the laundry facilities management contractor agreed to be acquired by rival CSC ServiceWorks  in a cash-and-debt deal valued at about $524 million. Terms of the deal call for Plainview, N.Y.-based CSC, a commercial laundry and coin service operator formed earlier this year, to pay $21.25 per share in cash for Mac-Gray, a premium of 42 ...

 

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