CenCor receives letter from Two Harbors Investment Company, LLC.KANSAS CITY Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). , Mo.--(BUSINESS WIRE)--June 5, 1998--CenCor, Inc. (the "Company") announced today that it had received a letter from Two Harbors Two Harbors may refer to:
LLC - Logical Link Control stating that it had commenced on June 2, 1998 a tender offer for up to 65,600 shares of common stock of the Company for a cash price of $4.75 per share. The Company also announced that it expresses no opinion and is remaining neutral with respect to the tender offer, which is for less than 4.9% of the outstanding shares. Although the Company is taking no position with respect to this tender offer, the tender offer price may be significantly less than a share of common stock may realize if held through complete liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy of the Company. Assuming the Company had fully liquidated DAMAGES, LIQUIDATED, contracts. When the parties to a contract stipulate for the payment of a certain sum, as a satisfaction fixed and agreed upon by them, for the not doing of certain things particularly mentioned in the agreement, the sum so fixed upon is called liquidated damages. (q.v. and distributed its assets on March 31, 1998 and the Company's actual realizable value of its assets and liabilities as of that date is identical to the Company's estimated realized value of these items, the Company's shareholders would have received an additional $9,846,000 or approximately $7.29 per share, less costs to liquidate To pay and settle the amount of a debt; to convert assets to cash; to aggregate the assets of an insolvent enterprise and calculate its liabilities in order to settle with the debtors and the creditors and apportion the remaining assets, if any, among the stockholders or owners of the . The actual amount to be realized upon complete liquidation may be adversely affected by claims arising from indemnification obligations resulting from the sales of the Company's assets, unanticipated tax liabilities, other liquidation costs or other unforeseen factors. The Company anticipates that its assets will be fully liquidated by October 1, 1999. CONTACT: CenCor Inc., Kansas City Jack L. Brozman, 816/221-5833 |
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