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New offer: Katy Industries Inc., Elgin, said Friday its board has received a new merger proposal from members of the Carroll family under which the family would acquire all of the Katy common stock not already owned by the family at a price of $25.75 per share in cash through a merger of a family-owned corporation into Katy. Members of the family hold over 52 percent of Katy’s outstanding common stock. As previously reported, the Carroll family submitted a proposal in September 1992 for a similar transaction at a price of $22 a share, which was later withdrawn by the familly and which wasn’t recommended by a special committee of Katy’s board.
