Communication Cable Inc. makes announcement.SANFORD, N.C.--(BUSINESS WIRE)--Feb. 14, 1996--Communication Cable Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CABL CABL Consolidation of Administration at Battalion Level CABL Cabling Subsystem ), a specialty electronic wire and cable manufacturer, reported today that Pentair Inc. has indicated it does not intend to increase its bid of $13.50 per share for CCI CCI Chambre de Commerce et d'Industrie (France) CCI CAM (Complementary and Alternative Medicine) Citation Index CCI Chamber of Commerce and Industry (Western Australia) common stock at this time. CCI and Pentair previously entered into an Agreement and Plan of Merger providing for a merger of CCI with a subsidiary of Pentair at a cash price of $13.50 per CCI share. Pentair has reaffirmed its desire to proceed with the merger pursuant to the terms of the merger agreement, and CCI has not terminated its obligations under the merger agreement, although CCI has the right to do so under certain conditions in connection with acceptance of a higher offer from a third party. At this time, shareholders are urged to tender their shares immediately pursuant to Kuhlman's $14 per share tender offer, which is scheduled to expire at 5 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, Thursday, Feb. 15, 1996. Shareholders also are urged to return by facsimile (201-804-8017) the company's white proxy card No. 2, rather than Kuhlman's blue proxy card, in connection with the special meeting of shareholders scheduled for Friday, Feb. 16, 1996. The Special Committee believes that it is important that Kuhlman be granted voting rights Voting rights The right to vote on matters that are put to a vote of security holders. For example the right to vote for directors. voting rights The type of voting and the amount of control held by the owners of a class of stock. only upon its successful completion of the tender offer. CONTACT: Communication Cable Inc., Sanford James R. Fore, 919/775-7775 |
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