Beta Phase/Molex merger agreement.MENLO PARK Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , Calif.--(BUSINESS WIRE)--Dec. 15, 1995--Beta Phase Inc. today announced that its Board of Directors has approved the company's entry into a merger agreement with Molex Molex (NASDAQ: MOLX) is a manufacturer of electronic components, including electrical and fiber optic interconnection products and systems, switches, integrated products and application tooling. , certain other holders of Beta Phase's Series C 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. and certain of their affiliates, and a to be formed acquisition company to be owned by Molex and such other stockholders. The Merger Agreement provides for Beta Phase to be merged with and into the acquisition company with each Beta Phase common stockholder receiving $.05 per share of Beta Phase common stock held as of the date the merger becomes effective. Beta Phase preferred stockholders will also receive $.05 per share of common stock held by them on a fully converted basis. It is currently anticipated that the merger will become effective in January January: see month. of 1996. CONTACT: Beta Phase Inc., Menlo Park Earl Zeigler, 415/688-7400 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion