Steinway hires Allen & Co. to help evaluate strategic alternatives

Steinway Musical Instruments Inc., the Waltham-based manufacturer of musical instruments, today announced that Allen & Company LLC has been retained to help it evaluate strategic alternatives, including the previously announced potential sale of the company’s band instrument and online music divisions.

In a press release, the company cautioned that there can be no assurance that this evaluation will result in any specific transaction.

Earlier this month, Steinway disclosed that members of its management team made an unsolicited proposal to buy its band instrument and online music divisions. At the time, Steinway said it had appointed a special committee to consider that proposal.

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