BNCM Completes Merger.Business Editors IRVINE Irvine, town, Scotland Irvine (ûr`vĭn), town (1991 pop. 32,507), North Ayrshire, SW Scotland, on the Irvine River estuary. Industries include iron and brass foundries. Other products are chemicals, electric goods, and clothing. , Calif.--(BUSINESS WIRE)--July 26, 2000 BNC (hardware) BNC - A connector for coaxial cable such as that used for some video connections and RG58 "cheapernet" connections. A BNC connector has a bayonet-type shell with two small knobs on the female connector which lock into spiral slots in the male connector when it is twisted Mortgage Inc. (Nasdaq:BNCM BNCM Bayesian Network Causal Model ) Wednesday Wednesday: see week. announced the completion of their previously announced merger. The shareholders of BNC Mortgage Inc. approved the merger at a special meeting of shareholders held July 21, 2000 in Irvine. Under the terms of the merger agreement, BNCM Acquisition Co., a company formed by the investor group led by senior members of the company's management, has acquired the company for an aggregate of approximately $47 million, which is equal to $10 per share for the outstanding shares of the common stock not retained by the investor group. BNC is a specialty finance company engaged in the business of originating, purchasing and selling, on a whole loan basis for cash, conforming and non-conforming, residential mortgage loans secured by one-to-four family residences. |
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