Reuters Limited

STAUNTON, Va. — American Safety Razor Co. said Monday it agreed to be acquired by J.W. Childs Equity Partners II L.P. for $173 million, or about $14.13 per share.

American Razor said in a statement that a J.W. Childs subsidiary will begin a cash tender offer for its stock by Feb. 22.

The board of directors of American Safety Razor has unanimously approved the merger agreement, the company said.

The Jordan Co., certain of its affiliates, partners and officers, and members of American Safety Razor's senior management, which collectively hold about 19 percent of the stock, have agreed to tender their shares.

Jordan, an investment firm that brought the company public in 1989, retains a small stake.

American Safety Razor makes private-brand and value-priced shaving blades and razors sold under retailers' names and the company's own brands, including Personna, Flicker and Burma Shave. ((-New York Newsdesk 212 859-1610)).

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