AMERICAN BRANDS COMPLETES OFFER FOR COBRA GOLF INCORPORATED.OLD GREENWICH Old Greenwich is a neighborhood or section in the southeast corner of Greenwich in Fairfield County, Connecticut, United States. The Old Greenwich Railroad Station serves commuters in the neighborhood. , CT--(BUSINESS WIRE)--January 24, 1996--American Brands, Inc. (NYSE-AMB) today announced that its subsidiary, HCAC HCAC Heartland Collegiate Athletic Conference , Inc., has successfully completed its tender offer for all outstanding common shares of Cobra Golf Incorporated (Nasdaq-CBRA) at $36.00 per share net in cash. Preliminary figures indicate 18,313,150 shares (including 1,371,212 shares tendered pursuant to notices of guaranteed delivery), representing 98.2% of the outstanding common shares, were tendered and accepted for payment subject to the conditions set forth in the offer. The offer and withdrawal rights expired at midnight, New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, January 23, 1996. The shares of Cobra Golf Incorporated not tendered will be converted into the right to receive $36.00 per share net in cash following a merger of HCAC, Inc. into Cobra to be effected in the near future. American Brands is an international consumer products holding company. In golf, leading brands include Titleist, Pinnacle pinnacle (pĭn`ĭkəl), minor architectural motif of vertical tapering shape, usually crowning a pier, buttress, or gable. Although sometimes it appears in Renaissance design, as in the Certosa di Pavia, it is almost exclusively a medieval and Foot-Joy. CONTACT: Media Relations: or Investor Relations Investor relations The process by which the corporation communicates with its investors. : Roger W. W. Baker Daniel A. Conforti (203) 698-5148 (203) 698-5132 |
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