* HARDINGE INC TO BE ACQUIRED BY PRIVET FUND MANAGEMENT LLC FOR $18.50 PER SHARE IN CASH

* DEAL FOR ‍TOTAL TRANSACTION VALUE OF APPROXIMATELY $245 MILLION​

* ‍UNDER TERMS OF AGREEMENT, PRIVET WILL ACQUIRE ALL SHARES OF HARDINGE COMMON STOCK NOT CURRENTLY OWNED BY PRIVET FOR $18.50 IN CASH​

* ‍AFFILIATES OF PRIVET CURRENTLY OWN APPROXIMATELY 10.46% OF OUTSTANDING SHARES OF HARDINGE COMMON STOCK​

* ‍COMMITTEE AND INDEPENDENT DIRECTORS OF BOARD UNANIMOUSLY RECOMMEND THAT COMPANY'S SHAREHOLDERS VOTE IN FAVOR OF PROPOSED TRANSACTION​

* ‍AFFILIATES OF PRIVET HAVE AGREED TO VOTE THEIR SHARES IN FAVOR OF PROPOSED TRANSACTION​

* HARDINGE - UNDER TERMS OF AGREEMENT, CO MAY SOLICIT ACQUISITION PROPOSALS FROM THIRD PARTIES DURING A 45-DAY "GO-SHOP" PERIOD THAT ENDS ON MARCH 28

* ‍PRIVET WILL FINANCE TRANSACTION THROUGH A COMBINATION OF EQUITY AND DEBT​

* ‍TRANSACTION IS NOT SUBJECT TO A FINANCING CONDITION​

* ‍ DEBT FINANCING FOR DEAL IS TO BE PROVIDED BY WHITE OAK GLOBAL ADVISORS, LLC.​

* ‍AGREEMENT WAS NEGOTIATED AND UNANIMOUSLY RECOMMENDED TO HARDINGE BOARD OF DIRECTORS BY STRATEGIC ALTERNATIVES COMMITTEE OF BOARD​ Source text for Eikon: Further company coverage: