Golub Associates Inc., New York, an investment company, Friday announced an intent to acquire Specialty Catalog Corp., South Easton, MA, in a cash deal. Golub will lead a transaction of all of the outstanding Specialty Catalog Corp. common stock for a purchase price of $5 a share. That amount is 40 percent over current market value, which closed Friday at $3.562. Specialty Catalog Corp. markets women's wigs and hairpieces through its Paula Young and Especially Yours catalogs as well as retail locations.
As part of the transaction, which will likely close during the first quarter of 2000, Steven L. Bock, Specialty Catalog's chairman, CEO, and president will remain in his position through June 30 to ease the transition. The company announced previously that Bock would leave the company December 31, 1999.