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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowWest Lafayette-based furniture maker Chromcraft Revington Inc. is being sold for $3.45 million.
The company has agreed to merge with Denver-based apparel maker Sport-Haley Holdings.
Sport-Haley would pay $2.7 million when the deal closes. It would pay another $750,000 when Chromcraft's plant in Delphi is sold or mortgaged, or 180 days after the merger is complete, whichever is earlier.
IBJ reported April 19 that the companies were in merger negotiations.
The stockholders of Chromcraft, whose shares trade over the counter following their delisting from the former American Stock Exchange, must approve the deal. It's expected to close before the end of the year.
Chromcraft's managers attempted to buy the company earlier this year, but were unsuccessful.
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