American Recreation Centers Inc. retains Allen & Company Inc. as investment bankers.SACRAMENTO, Calif.--(BUSINESS WIRE)--March 15, 1995--American Recreation Centers Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AMRC AMRC Association of Medical Research Charities AMRC Advanced Manufacturing Research Centre (UK) AMRC Association of Municipal Recycling Coordinators AMRC Accès Multiple par Répartition en Code (French) ) today announced that its Board of Directors has retained Allen & Company Incorporated of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of as its investment bankers. Allen & Company will assist the company in determining whether the recently announced offer by Fulcrum fulcrum: see lever. Capital Partners to acquire the company is in the best interests of the company's shareholders and in exploring the alternatives available to the company to achieve the greatest long-term value to its shareholders. The company stated that it had received a cash offer from Fulcrum Capital Partners to acquire all of the stock of the company for approximately $37.6 million. Fulcrum has indicated that their offer is subject to a material increase following their 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. review of the company. The Board of Directors is considering the offer. The Board of Directors will continue to review the best course of action by the Company in light of the public statements made by Fulcrum Capital Partners. The Board has engaged Allen & Company to study the alternative options, including a merger or divestiture to achieve the greatest long-term strategic benefit to its shareholders. ARC operates 39 bowling centers with 1,572 lanes; 21 in California, seven in Texas, six in Wisconsin, three in Oklahoma and one each in Kentucky and Missouri. The company also holds a majority interest in The Right Start Inc. (NASDAQ:RTST RTST Roads to Space Travel (band) RTST Radio Technician Selection Test ), a leading catalog merchant and retailer of high quality children's products. CONTACT: American Recreation Centers Inc. Robert A. Crist or Karen B. Wagner, 916/852-8005 |
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