ST. LOUIS — A Lehman Brothers affiliate is poised to buy Angelica Corp., which provides textile rental and linen management services to U.S. healthcare clients, for $22 per share in cash.
Angelica’s board of directors unanimously approved the merger agreement with Clothesline Holdings and Clothesline Acquisition Corp. on May 22. It’s subject to shareholder approval and antitrust clearance, and is expected to close in late summer.
