Mohawk Industries to acquire Lees Carpet
July 21, 2003,
Calhoun, GA — Mohawk Industries Inc. today announced it has entered an agreement with W. L. Ross & Co. to acquire the assets and assume certain liabilities of Lees Carpet, the carpet division of Burlington Industries Inc.
Ross has entered a binding bid to Burlington to purchase certain assets and assume certain liabilities of Burlington in connection with its emergence from bankruptcy. This bid includes a provision for Lees Carpet to be sold to Mohawk by Ross if it is successful in the auction process. The auction is scheduled for July 28, and a bankruptcy court hearing to approve the auction is scheduled for July 31.
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