COHR completes Three Cities deal

Independent service organization COHR of Chatsworth, CA, went private this month when it closed a deal to be acquired by investment advisor firm Three Cities Research of New York City. Three Cities paid $6.50 in cash for each of COHR’s outstanding shares.

TCR initiated the deal in December when it bought a 48% interest in COHR from Franklin Research of San Mateo, CA, and Strong Capital Management of Milwaukee (SCAN 1/13/99). The deal gives COHR relief from conducting its business under public scrutiny, but otherwise COHR’s operations should not change as a result of the merger, according to company executives.