To support the financing of the acquisition, Walter Industries' subsidiary, U.S. Pipe, will become a part of Mueller Water Products when the acquisition closes. After the acquisition is completed, Mueller Water Products will continue to operate as its own company, as will U.S. Pipe, and the current leadership of both Mueller Water Products and U.S. Pipe will remain in place. Each will retain its name and headquarters locations. Anvil operations will continue as a part of the consolidated operations of Mueller Water Products.
Walter Industries To Acquire Mueller Water Products
Anvil International Inc.'s parent company, Mueller Water Products Inc., entered into a definitive agreement with Walter Industries Inc., whereby Walter Industries will acquire Mueller Water Products for approximately $1.91 billion, subject to adjustments as provided in the agreement. Upon anticipated closing in the third quarter of 2005, Mueller Water Products will become a wholly owned subsidiary of Walter Industries.
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