ACCO World Corporation Announces Tender Offer for Advanced Gravis.DEERFIELD, Ill.--(BUSINESS WIRE)--Aug. 19, 1996--ACCO World Corporation announced today that, through a subsidiary, it has entered into an agreement with Advanced Gravis Computer Technology Advanced Gravis Computer Technology, Ltd. was a manufacturer of computer peripherals and hardware. The company was founded in 1982 in British Columbia, Canada. Their most famous products were the Gravis PC GamePad, at one time one of the the most popular gaming controllers for the Ltd. to make a cash tender offer to acquire all of Advanced Gravis' outstanding common shares at a price of $0.45 (Can.) per share, or approximately $0.33 (U.S.) per share. Advanced Gravis currently has approximately 19,686,000 common shares outstanding. The board of directors of Advanced Gravis has unanimously approved and has indicated it will recommend that shareholders accept the offer. ACCO ACCO American College of Chiropractic Orthopedists ACCO Association of County Commissioners of Oklahoma ACCo American Cyanamid Company ACCO Adenoid Cystic Carcinoma Organization ACCO American Clip Company ACCO Assistant Central Control Officer World Corporation is the world's leading manufacturer and distributor of a wide range of office products. ACCO also has a major presence in computer-related peripheral and accessory products sold under the Kensington and ACCO data brands, as well as a leading position in time management software products, sold under the Day-Timer brandname. Advanced Gravis, located in Burnaby, British Columbia “Burnaby” redirects here. For persons sharing this surname, see Burnaby (surname). Burnaby, British Columbia, Canada, is the city immediately east of Vancouver. , Canada, designs, manufactures and markets joysticks, GamePads and high-end sound cards for both IBM-compatible and Macintosh computers to customers worldwide. Norman H. Wesley, President and Chief Executive Officer of ACCO World, said: "This acquisition fits exceptionally well into our technology group adding a promising new category to our mix of computer peripheral products, specifically our award winning mice and trackballs. Advanced Gravis' technologies and channels of distribution are highly complementary to those we already have in place. We feel that there are substantial benefits in combining the two brands, Kensington and Gravis, under one ownership." The offering circular Offering Circular An abbreviated prospectus for a new security listing. Delivered to individuals and brokerage houses, these documents are issued to arouse interest in the new issue. Notes: An offering circular allows investors to access information regarding a new issue. will be mailed shortly. The tender offer will remain open for at least 21 days thereafter unless terminated according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. its terms. Products sold under the Kensington brand include the award-winning Thinking Mouse, Turbo Mouse A Macintosh trackball from Kensington Computer Products Group, a division of ACCO Brands, Redwood Shores, CA (www.kensington.com). The quicker the ball is moved, the greater the distance the pointer is moved on screen. and Expert Mouse input devices; the MasterPiece power control centers, the System Saver surge suppression The diverting and/or diminishing of excessive current and voltage from the AC power line, which can damage sensitive electronic equipment. Power surges generally last less than 50 microseconds, but can reach as much as 6,000 volts and draw 3,000 amps when they arrive at the equipment. outlet strips; the MicroSaver security system, and the popular NoteBook Traveler carrying cases. Other product categories include storage, comfort, productivity and cleaning products. Time management brands include the popular Day-Timer Organizer and Day-Timer Address Book software and supplies. Other leading office product brands of ACCO World include ACCO, Swingline, Wilson Jones Charles Wilson Jones (born April 29, 1914 in Wrexham, Wales, died January 9, 1986 in Birmingham) was a Welsh professional footballer who played as an centre-forward for Wrexham, Birmingham and Nottingham Forest in the Football League, and for Wales at international level. and Rexel. ACCO World Corporation is a subsidiary of American Brands, Inc., an international consumer products holding company. American Brands' operating companies have powerhouse brands and leading positions in distilled spirits, hardware and home improvement products, golf products, and international tobacco as well as office products. CONTACT: ACCO World Corp. Roger W. Baker, 203/698-5148 (Media) Daniel A. Conforti, 203/698-5132 (Investors) |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion