DenAmerica Receives All-Cash Bid for Black Eyed Pea.SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Oct. 17, 1997--WAM Acquisitions LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control today announced its offer to purchase 100 percent of Black Eyed Pea Inc. from DenAmerica Corp. (AMEX AMEX See: American Stock Exchange :DEN) on an all-cash transaction subject to certain terms and conditions. According to information contained in its public filings, DenAmerica would realize an approximate $54 million gain, or approximately $4 per share, upon close of the transaction. WAM WAM - Intermediate language for compiled Prolog, used by the Warren Abstract Machine. "An Abstract Prolog Instruction Set", D.H.D. Warren, TR 309, SRI 1983. Acquisitions has extended a Letter of Intent to resell Black Eyed Pea to Tech Electro Industries 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 :TELE), a publicly held company. Argent ar·gent n. 1. Heraldry The metal silver, represented by the color white. 2. Archaic Silver or something resembling it. Securities Inc., based in Atlanta, will represent Tech Electro Industries. WAM Acquisitions believes that completion of this transaction, and others previously announced by DenAmerica, would leave DenAmerica virtually debt free with approximately $3 a share in cash. DenAmerica closed at $2.00 per share on Thursday. CONTACT: WAM Acquisitions LLC, Scottsdale Wayne McIntosh, 602/971-2296 or Tech Electro Industries Steven Scott, 213/228-0200 ext. 101 |
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