Attwoods urges shareholders to reject BFI's meager increased offer.COCONUT GROVE, Fla.--(BUSINESS WIRE)--Nov. 17, 1994--The board of Attwoods considers the meager mea·ger also mea·gre adj. 1. Deficient in quantity, fullness, or extent; scanty. 2. Deficient in richness, fertility, or vigor; feeble: the meager soil of an eroded plain. 3. 7.1% increase in BFI's offer to 116.75 pence to be insufficient. BFI BFI - brute force and ignorance has insidiously in·sid·i·ous adj. 1. Working or spreading harmfully in a subtle or stealthy manner: insidious rumors; an insidious disease. 2. gained potential control over 30% of Attwoods' shares and shareholders should not allow BFI to use this to acquire Attwoods on the cheap. The directors (excluding the Laidlaw representatives), who have been so advised by Warburgs, Flemings and Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. , believe that the revised offer still seriously undervalues Attwoods and recommend that shareholders reject it, as the non-Laidlaw directors intend to do in respect of their own shares. BFI's response to Attwoods' plan to maximize value is entirely predictable and merely serves to underline underline an animal's ventral profile; the shape of the belly when viewed from the side, e.g. pendulous, pot-belly, tucked up, gaunt. the plan's attractions to shareholders. Attwoods' directors have publicly committed themselves to implementing the plan as soon as BFI's offer has lapsed LEGACY, LAPSED. A legacy is said to be lapsed or extinguished, when the legatee dies before the testator, or before the condition upon which the legacy is given has been performed, or before the time at which it is directed to vest in interest has arrived. Bac. Ab. Legacy, E; Com. Dig. . They have undertaken to do so on a clearly defined six month timescale timescale Noun the period of time within which events occur or are due to occur timescale n → délais mpl timescale time (Brit) n . Commenting on the revised offer, Ken Foreman, chief executive of Attwoods, said: -0- "Our plan has one simple purpose: to maximize shareholder value. We will do this by obtaining a full premium for control of three different businesses with specific attractions to the different purchasers who have approached us. This is in stark contrast to BFI's cynical attempt to take control of Attwoods at the lowest possible price. No amount of false invective from BFI will conceal this contrast from our shareholders. "BFI's meager increase is designed to get Attwoods on the cheap. We are confident that the Attwoods plan will realize greater value than BFI's increased offer. We urge shareholders to support our plan and let the BFI offer lapse." -0- CONTACT: Attwoods plc, London
Ken Foreman, 011-44-71-860-1090
or
Smith Barney Inc., New York
Bruce Cummings, 212/698-6745
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S.G. Warburg & Co. Ltd., London
Robin Budenberg, 011-44-71-860-1090
or
Attwoods plc, Coconut Grove (U.S. office)
Kim Janusz, 305/856-4791
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