Berg Electronics Corp. announces successful completion of equity tender offer.ST. LOUIS--(BUSINESS WIRE)--March 19, 1996--Berg Electronics Corp. ("Berg") announced today the successful completion of its tender offer for all outstanding shares of its Series E Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. (the "Series E Preferred") at $29.75 per share net to each seller in cash, plus accrued and unpaid dividends Unpaid dividend A dividend declared by the directors of a corporation that has not yet been paid. unpaid dividend 1. A declared dividend that has not yet been paid. 2. See passed dividend. to but not including March 18, 1996. Berg has been informed by the depositary DEPOSITARY, contracts. He with whom a deposit is confided or made. 2. It is, the essence of the contract of deposits that it should be gratuitous on the part 'of the depositary. 9 M. R. 470. , Harris Trust Company 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 , that, based upon a preliminary count as of 5:00 p.m., New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, on March 18, 1996, 1,584,980 shares of Series E Preferred (representing approximately 99.9% of the remaining shares of Series E Preferred outstanding following the redemption by Berg on March 18, 1996 of 50% of the outstanding shares of Series E Preferred) have been validly tendered and not withdrawn. Berg has accepted and will pay for, in accordance with the terms of the offer, all of the shares validly tendered. The tender offer expired as of 5:00 p.m., New York City time, on March 18, 1996. CONTACT: Berg Electronics Corp. David M. Sindelar (314) 746-2245 or MacKenzie Partners, Inc. Stan Kay (212) 929-5940 or Kekst and Company Roy Winnick (212) 593-2655 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion