Steinway Musical Instruments Inc., best known for its grand exquisitely carved and pricey pianos. Steinway will now be taken over by a renowned financial services firm, Paulson & Co. News reports indicate that a deal valued at a whopping $512 million was signed after the hedge fund firm made sweeter music by raising its offer to $ 40 per share for investors. It seems that Paulson & Co. has correctly evaluated the true worth of the 160 year old company. common stock. This process will help in making the musical instrument company a completely private concern. Steinway Musical Instruments Inc. comes with a very rich history and has been in the business of making musical instruments for the past 160 years. Its grand and expensive pianos have been a status symbol among connoisseurs of fine music for several decades. Steinway pianos are considered to be a must have luxury accessory in big concert halls. Unfortunately the company suffered huge losses during the 2008 recession. Even though sales increased during the past few years it still was not enough to recoup the gigantic losses suffered during the financial downturn and return the company to its pristine glory. The CEO of Steinway released a statement claiming that the “Paulsons” offer reflected an attractive evaluation of the elite musical instruments company’s heritage and growth potential. The lucrative offer is also expected to provide its shareholders with much better returns.