NEW YORK - GenTek Inc, a maker of specialty chemicals and vehicle engine components, said on Monday it has agreed to a takeover by a subsidiary of private equity firm American Securities LLC for $411 million in cash.
The American Securities unit will assume about $262 million in debt.

Under terms of the deal, ASP GT Acquisition, a subsidiary of American Securities, will pay $38 per GenTek share, a 41 percent premium over Friday's closing price of $27 on the Nasdaq. (Reporting by Nick Zieminski; Editing by Derek Caney)