Castle & Cooke, Inc. and Flexi-Van Leasing, Inc. Announce Successful Results of Tender Offer and One Day Extension Through Friday, July 7.Business Editors LOS ANGELES--(BUSINESS WIRE)--July 7, 2000 Castle & Cooke, Inc. (NYSE NYSE See: New York Stock Exchange : CCS (1) (Common Channel Signaling) A communications system in which one channel is used for signaling and different channels are used for voice/data transmission. Signaling System 7 (SS7) is a CCS system, also known as CCS7. See SS7. ) and Flexi-Van Leasing, Inc. announced today that approximately 7.2 million shares have been tendered in response to the tender offer made by Flexi-Van's wholly-owned subsidiary, Castle Acquisition Company, Inc., for the shares of Castle & Cooke, Inc., which Flexi-Van and its affiliates do not already own. Following the acceptance of these shares, Castle Acquisition Company, Inc. will own more than 68%, or approximately 11.7 million shares, of Castle & Cooke, Inc. Due to a system failure and communications and reporting problems between 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. Trust Company and the Exchange Agent, it is possible additional shares have been tendered. As a result, the offer has been extended by one extra day to 12:00 p.m. Eastern Standard Time on July 7, 2000, so that the problem can be resolved and additional shares tendered. In connection with the tender offer, the Circuit Court of the Second Circuit, State of Hawaii, granted preliminary approval on July 5, 2000, to the previously announced settlement of the purported class actions challenging the tender offer. Flexi-Van's Chairman David H. Murdock David Howard Murdock (1924-), with his net worth of 4.2 billion US Dollars, is the 204th richest person in the world. A high-school dropout, Murdock was drafted by the U.S. Army in 1943. stated, "It is gratifying grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. to see that so many shareholders have tendered. We look forward to completing the tender offer and merger and to working with the Castle & Cooke, Inc. employees to continue to build the company as a private entity. We encourage shareholders who have not tendered to do so on July 7, 2000". Castle & Cooke, Inc. is a developer of residential and commercial real estate in Hawaii, California, North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. , Arizona, Georgia and Florida. The company also owns and operates two of the world's highest-rated resorts on the island of Lana'i in Hawaii. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion