Big O and TBC negotiating merger letter of intent.ENGLEWOOD Englewood (ĕng`gəlw  d).1 City (1990 pop. 29,387), Arapahoe co., N central Colo., on the South Platte River, a residential and industrial suburb of Denver; inc. 1903. , Colo.--(AutomotiveWire)--Feb. 29, 1996--Big O Tires, Inc. (Nasdaq/NM:BIGO) today announced that Big O is negotiating a letter of intent with TBC tbc abbr (= to be confirmed) → por confirmar tbc abbr (= to be confirmed) → noch zu bestätigen tbc abbr Corporation (Nasdaq/NM:TBCC TBCC Tillamook Bay Community College TBCC Turbine-Based Combined Cycle TBCC Tennessee Business Card Club TBCC Transfer Between Cost Centers TBCC Thomas Bennett Community College TBCC Tailbiting Convolutional Code TBCC The Bean Coffee Company ) relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc TBC's proposed acquisition of Big O. TBC has proposed a cash price of $16.50 per Big O share, subject to several conditions including a potential reduction in price as provided in TBC's letter of intent. If the letter of intent is agreed upon Adj. 1. agreed upon - constituted or contracted by stipulation or agreement; "stipulatory obligations" stipulatory noncontroversial, uncontroversial - not likely to arouse controversy , the transaction would still be subject to the execution of a definitive merger agreement, Big O and TBC Board approval, approval by the Big O stockholders and the satisfaction of contractual conditions. Although the previously announced merger agreement between the Company and the companies formed by a Dealer/Management Group is still in effect, either the Company or the Dealer/Management Group are able to terminate that merger agreement after February 28, 1996. The TBC letter of intent is conditioned on termination of that merger agreement. TBC Corporation is a marketer and distributor of products for the automotive replacement market. Big O Tires, Inc. is a franchisor of independent retail tire and auto service stores. CONTACT: Big O Tires Inc., Englewood Beth Hayne, (303) 790-2800 |
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