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Wednesday, August 14, 2013

Legendary Steinway Piano Company Set To Change Hands

(Wexner Center/Flicker)

(Wexner Center/Flicker)

The 160-year-old piano maker, Steinway, is set to change hands. Last month, a private equity firm emerged as the likely buyer.

That was until today, when hedge fund manager John Paulson made an offer of $500 million. The billionaire now looks set to take control of one of the oldest manufacturers in the country.

But, Steinway’s workers don’t think a change of ownership will mean much of a change for them.

Reporter


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