Algonquin Mercantile Announces it Has Entered into a Letter of Intent to Purchase a Privately Held Automotive Assembly Business Having Sales Volumes in Excess of $100 Million.TORONTO--(BUSINESS WIRE)--Aug. 27, 1997--Algonquin Mercantile Relating to trade or commerce; commercial; having to do with the business of buying and selling; relating to merchants. A mercantile agency is an individual or company in the business of collecting data about the financial status, ability, and credit of individuals (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :AM) Algonquin Algonquin (ălgŏng`kwĭn, -kĭn), small group of Native North Americans. The name of the Algonquian branch of the Algonquian-Wakashan linguistic stock (to which they belonged) is derived from their name (see Native American languages). Mercantile Corporation ("Algonquin") announces that it has entered into a letter of intent to purchase a privately held automotive assembly operation. The transaction is subject to a number of conditions including completion of due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. , obtaining both the necessary regulatory approvals and financing satisfactory to Algonquin. This acquisition if completed will add additional sales of over $100 million and make a significant contribution to Algonquin's earnings. The transaction is expected to close October 31, 1997. CONTACT: Algonquin Mercantile Corp., Toronto Winston R. Ash, 905/841-4473 Fax: 905/841-2714 |
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