Printer Friendly

EQUUS II INCORPORATED AND EQUUS INVESTMENTS INCORPORATED ENTER INTO LETTER OF INTENT TO MERGE

 HOUSTON, Feb. 16 /PRNewswire/ -- The Board of Directors of both Equus II Incorporated (AMEX: EQS) and Equus Investments Incorporated (AMEX: EQI) announced today they have entered into a letter of intent, which calls for the merger of Equus Investments Incorporated with and into Equus II Incorporated. Pursuant to the letter of intent, EQS will issue additional shares of common stock to the stockholders of EQI in a tax free exchange to acquire EQI. The number of EQS shares to be exchanged for each share of EQI common stock will be determined upon completion of certain conditions, including the receipt of an opinion as to the fairness of the exchange ratio to the stockholders of EQS and EQI by a national securities firm.
 The merger is subject to and contingent upon several conditions, including approval by a majority vote of the outstanding shares of both EQS and EQI and review, pursuant to the Investment Company Act of 1940, by the Securities and Exchange Commission of a joint proxy statement and prospectus. The merger is expected to be completed on or about July 1, 1993.
 Equus II Incorporated and Equus Investments Incorporated are business development companies which invest in equity-oriented securities of small to medium-sized companies which are normally privately owned when EQS or EQI initially invest. EQS and EQI currently have investments in 13 and nine portfolio companies, respectively. Therefore, the combined entity will have a more diversified portfolio, and will also benefit from reduced operating and administrative costs.
 -0- 2/16/93
 /CONTACT: Lisa R. Darrough, or Patrick M. Cahill, both of Equus, 713-529-0900/
 (EQS EQI)


CO: Equus II Incorporated; Equus Investments Incorporated ST: Texas IN: FIN SU: TNM

LD -- NY136 -- 7010 02/16/93 17:47 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 16, 1993
Words:288
Previous Article:FOUR EXECUTIVES APPOINTED TRIBUNE SENIOR VICE PRESIDENTS
Next Article:YELLOW FREIGHT EXTENDS PRESTON TENDER OFFER TO FEBRUARY 18
Topics:


Related Articles
EQUUS II INCORPORATED BEGINS TRADING ON THE AMERICAN STOCK EXCHANGE
EQUUS II INCORPORATED ANNOUNCES FINANCIAL RESULTS
EQUUS INVESTMENTS INCORPORATED ANNOUNCES FINANCIAL RESULTS
EQUUS II AND EQUUS INVESTMENTS ENTER MERGER AGREEMENT
EQUUS II INCORPORATED ANNOUNCES FIRST QUARTER FINANCIAL RESULTS
EQUUS II INC. AND EQUUS INVESTMENTS INC. ADJUST MERGER EXCHANGE RATIO
EQUUS II INCORPORATED ANNUAL MEETING ADJOURNED UNTIL JUNE 25, 1993
EQUUS INVESTMENTS INCORPORATED, EQUUS II INCORPORATED MERGER APPROVED AT ANNUAL MEETINGS
EQUUS II INCORPORATED ANNOUNCES SECOND QUARTER FINANCIAL RESULTS
EQUUS II INCORPORATION TO PURCHASE A DIVISION OF ALLWASTE, INC.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters