Myers Merger Agreement Terminated

Myers Industries, an international manufacturer of horticultural containers based in Akron, Ohio, will not merge with GS Capital Partners after nearly a year of negotiations.

GS Capital Partners is the private-equity vehicle of Goldman Sachs Group, which offered to buy Myers for more than $1 billion last April. Goldman then paid a $35 million non-refundable fee in December for the right to evaluate conditions in the industry, and it notified Myers this month that it no longer intended to proceed with the acquisition.

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Myers is a 75-year-old manufacturer of brands like Dillen Products, ITML, Listo Products and Pro Cal. It also makes polymer products for the automotive and industrial markets.

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