Printer Friendly

BELDING HEMINGWAY COMPANY, INC. ENTERS AGREEMENT IN PRINCIPLE ON MERGER

 NEW YORK, Feb. 24 /PRNewswire/ -- Belding Hemingway Company, Inc. (NYSE: BHY) announced today that it has entered into agreement in principle with Noel Group, Inc. (NASDAQ: NOEL), with respect to a merger between Belding and a subsidiary of Noel pursuant to which shareholders of Belding would receive $34.50 per share in cash. The proposed merger is subject to Noel's due diligence investigation of Belding which is expected to be completed within the next 30 days. In addition, the companies intend to proceed immediately to the negotiation of a mutually acceptable definitive merger agreement which will be subject to, among other things, Noel securing permanent debt financing for the merger.
 Belding Hemingway Company, Inc. is a leading producer of high technology threads and specialty fabrics and a leading marketer of a diversified line of other consumer products. Belding also has investments in entities owning real estate and a cellular telephone license.
 Noel is a publicly held company holding controlling or other significant interests in various companies.
 -0- 2/24/93
 /CONTACT: Ronald V. Kaplan of Belding Hemingway Company, Inc., 212-556-4700/
 (BHY)


CO: Belding Hemingway Company, Inc.; Noel Group, Inc. ST: New York IN: TEX SU: TNM

SM-AH -- NY073 -- 0111 02/24/93 17:21 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 24, 1993
Words:205
Previous Article:NOBLE DRILLING ANNOUNCES CONTRACT DEVELOPMENTS IN NIGERIA AND MADAGASCAR
Next Article:CMI CORPORATION ANNOUNCES FINANCIAL RESULTS
Topics:


Related Articles
BELDING HEMINWAY COMPANY, INC. DECLARES DIVIDEND
BELDING HEMINWAY COMPANY, INC. REPORTS SALES AND EARNINGS FOR 1992 AND FOURTH QUARTER RESULTS
BELDING HEMINWAY DECLARES DIVIDEND
BELDING HEMINWAY COMPANY, INC. ENTERS INTO A MERGER AGREEMENT WITH NOEL GROUP, INC.
GARY SILVERMAN APPOINTED VP-HR OF BELDING HEMINWAY
BELDING HEMINWAY REPORTS FIRST QUARTER SALES, EARNINGS
BELDING HEMINWAY REPORTS SECOND QUARTER, SIX-MONTH SALES AND EARNINGS
NOEL GROUP REPORTS SECOND QUARTER RESULTS
NOEL GROUP REPORTS FINANCIAL RESULTS FOR FOURTH QUARTER AND YEAR-END
Belding Heminway Shareholders Approve Thread Division Sale, Company Name Change

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters