Carson Pirie Scott & Co. extends expiration date of tender offer for Younkers to June 23.MILWAUKEE--(BUSINESS WIRE)--June 1, 1995--Carson Pirie Scott & Co. (NYSE NYSE See: New York Stock Exchange : CRP C-reactive protein (CRP) A protein present in blood serum in various abnormal states, like inflammation. Mentioned in: Pelvic Inflammatory Disease CRP, n.pr See C-reactive protein. ) today announced that it has extended the expiration date of its tender offer for all of the outstanding common stock of Younkers Younkers is a department store chain in the Midwestern United States. The chain concentrates on the middle and upper-class segments of the market. History Beginnings Inc. (NASD-NMS: YONK) to 12:00 midnight, Eastern Daylight Time, on Friday, June 23, 1995. As of 2 p.m. today, 1,795,069 shares of Younkers common stock had been tendered into Carson's offer. Stanton J. Bluestone bluestone, common name for the blue, crystalline heptahydrate of cupric sulfate called chalcanthite, a minor ore of copper. It also refers to a fine-grained, light to dark colored blue-gray sandstone. , president and chief executive officer of Carson, commented: "We have extended our $19 cash tender offer for approximately three weeks in order to evaluate the actions we expect the Younkers Board of Directors to take immediately. Our decision to extend our offer before its June 6 expiration was made based on our understanding that the Younkers Board will meet tomorrow, June 2. "Because Younkers' shareholders have elected Carson's nominees to the Younkers Board and have approved the `put Younkers up for sale' resolution, we expect the Younkers Board at its meeting tomorrow will start a process which should lead to the sale of Younkers to the highest bidder. As Younkers' largest shareholder, we do not intend to allow Younkers' management or the Younkers Board to ignore the wishes of Younkers' shareholders." Carson Pirie Scott Carson Pirie Scott & Co., known informally as Carson's, is a chain of traditional department stores that have been in business for over 150 years. Their product price points are targeted to the moderate-to-upscale shopper. & Co., a major department store retailer, operates 51 department stores and two furniture stores: 30 Carson Pirie Scott stores in Greater Chicago, Indiana and Minnesota; 13 Bergner's stores in downstate down·state n. The southerly section of a state in the United States. adv. & adj. To, from, or in the southerly section of a state. down Illinois and Wisconsin; and 10 Boston Stores in Wisconsin. CONTACT: Carson Pirie Scott & Co. Darren R. Jackson, 414/278-5717 Media: Edward P. Carroll, Jr., 414/347-5340 or Mackenzie Partners Inc. Stanley J. Kay, 212/929-5940 |
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