FEDERAL TRADE COMMISSION CLEARS GENERAL SIGNAL'S ACQUISITION OF BEST POWER TECHNOLOGY.STAMFORD, Conn.--(BUSINESS WIRE)--May 24, 1995--General Signal Corporation (GSX GSX Gelled Slurry Explosive GSX Ground Storm X (VMware) GSX Gran Sport Extra (Buick Skylark) GSX Gasco Energy Company GSX Gender Sexuality XYZ :NYSE NYSE See: New York Stock Exchange ) announced today that it has been advised by the U.S. Federal Trade Commission that the Commission has completed its investigation of the company's proposed acquisition of Best Power Technology, Incorporated, (BPTI BPTI Bovine Pancreatic Trypsin Inhibitor :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 ), a Necedah, Wisconsin-based manufacturer of uninterruptible power supply See UPS. (hardware) Uninterruptible Power Supply - (UPS) A battery powered power supply unit that is guaranteed to provide power to a computer in the event of interruptions in the incoming mains electrical power. products with 1994 sales of $149 million. The Commission has decided to take no further action with regard to this transaction. This decision satisfies a condition to General Signal's cash tender offer for all outstanding shares of Best Power Technology. Once a minimum number of shares have been tendered, General Signal will proceed to merge Best Power Technology with General Signal. Shareholders have until June 13 to respond to the offer. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Edmund M. Carpenter, chairman and chief executive officer of General Signal, "The addition of Best Power, together with our Sola operation, positions the combined businesses to compete effectively in the worldwide uninterruptible power supply marketplace and as a global power protection, conversion, and transformer competitor." When completed, the addition will be General Signal's 26th "bolt-on" acquisition in the past six years. General Signal Corporation, with 1994 sales of $1.53 billion, is a leading equipment manufacturer for the process control, electrical, and industrial technology industries. CONTACT: General Signal Corporation Nino Fernandez, 203/329-4320 |
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