Carey International Inc., a chauffeured vehicle services company, has entered into a definitive agreement and plan of merger with Ford Motor Co. and an entity affiliated with both Chartwell Investments II LLC, a New York private-equity firm. The company’s board of directors unanimously approved a transaction that provides for the acquisition of all outstanding shares of Carey International stock for $18.25 per share in cash. The company expects that the transaction will be completed by the end of August.
Carey international provides chauffeured sedan, limousine, van, and minibus service through a worldwide network of owned and operated companies, licensees, and affiliates serving 480 cities in 75 countries.