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Luther King Capital to buy IDG for about $136M

The private equity firm, which already owned a 15% stake in the company, will take Industrial Distribution Group private after the transaction is complete. Platinum Equity had an earlier merger agreement in place with IDG but has decided it will not try to meet or better the bid from Luther King Capital Management. LKCM will repay IDG for the 3% break-up charge that is required per IDG's agreement with Platinum. Modern Distribution Management (04/26)