Cendant Extends $67 Per Share Tender Offer for American Bankers Insurance Group to August 3, 1998.STAMFORD, CT and PARSIPPANY, NJ--(BUSINESS WIRE)--July 2, 1998--Cendant Corporation (NYSE NYSE See: New York Stock Exchange :CD) announced today it has extended its cash tender offer to purchase approximately 23.5 million common shares of American Bankers Insurance Group, Inc. (NYSE:ABI Abi (ā`bī) [short for Abijah], in the Bible, King Hezekiah's mother. (Application Binary Interface) A specification for a specific hardware platform combined with the operating system. ) at a price of $67 per share. The offer, which commenced on January 28, 1998, and was scheduled to expire at 5:00 p.m., New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, on Wednesday, July 1, 1998 has been extended through 5:00 p.m., New York City time, on Monday, August 3, 1998, unless further extended. As of 5:00 p.m. New York City time on July 1, 1998, 32,762,383 shares of American Bankers' stock had been tendered to Cendant under the terms of the tender offer, including 7,451,376 shares tendered pursuant to notices of guaranteed delivery. The Information Agent for the Cendant offer is Innisfree M&A Incorporated. The Dealer Managers are Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. and Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. & Co. Cendant (NYSE:CD) is the world's premier provider of consumer and business services.Cendant operatesin three principal segments: Alliance Marketing, Travel and Real Estate Services. In Alliance Marketing, Cendant provides access to travel, shopping, auto, dining, and other services worldwide. In Travel Services, Cendant is the leading franchisor of hotels and rental car agencies worldwide, the premier provider of vacation exchange services, a leading fleet management company through PHH PHH Provinciale Handelsschool Hasselt (school) PHH Pasukan Anti Huru-Hara (Anti Riot Task Force) PHH Phillips Head (screw) PHH Planar Halogenated Hydrocarbon , and the U.K.'s largest private car park operator through NPC 1. (complexity) NPC - NP-complete. 2. (architecture) NPC - Next Program Counter. . In Real Estate Services, Cendant is the world's premier franchisor of residential real estate brokerage offices, a major provider of mortgage services to consumers and a global leader in corporate employee relocation. Headquartered in Stamford, CT and Parsippany, NJ, the company has nearly 40,000 employees, operates in over 100 countries and makes more than 100 million customer contacts annually.
CONTACT: Media Contact:
Elliot Bloom
Vice President
Public Relations
(973) 496-8414
or
Kekst and Company
Jim Fingeroth/Victoria Weld
(212) 521-4800
|
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion