FIRMS SETTING MERGER TERMS; PERFECDATA TO JOIN PEGO.Byline: Enrique Enrique (IPA [en'ɾike]) is the Spanish form of the name Henry. As a given name, it ranked 298 out of 1219 for males of all ages in the 1990 U.S. Census. Rivero Daily News Staff Writer Officials of PerfectData, a Simi Valley-based maker of computer and office maintenance products, announced Tuesday Tuesday: see week. that the company has agreed in principle to merge with Long Beach-based Pego Pego can refer to:
Pego is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of The Harcourt Companies Inc., a Los Angeles-based investment holding company specializing in manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. . Under the deal, Harcourt will acquire up to 5 percent of PerfectData's outstanding shares through open market purchases and a tender offer of $6.40 per share: 40 cents in cash and the rest in the form of a 10 percent convertible preferred share at $6, convertible on a 1.25-to-1 basis. PerfectData plans to issue 3.75 million common shares for 100 percent ownership of Pego. Harcourt, meanwhile, will issue 315,000 shares of its common stock to PerfectData shareholders. The merger is subject to shareholder approval as well as regulatory approvals and signing of a definitive agreement, said Joseph Mazin, chief executive officer of PerfectData. ``I think it's beneficial for shareholders,'' Mazin said. ``We're looking to enhance shareholder value, and this is a good way to do it.'' The agreement also affects two other companies: Flamemaster, a Sun Valley-based maker of coating and sealants, and El Guapo El Guapo (Spanish for The Handsome One) has several common English uses:
Upon the merger's completion, PerfectData shareholders will receive a special distribution of one share of Flamemaster common stock for each 130 shares they hold. In addition, PerfectData's El Guapo shares would either be sold or distributed to PerfectData shareholders. Mazin said Tuesday that it was too early to put a dollar value on the deal, but said it will be a good deal for shareholders. PerfectData stock closed Tuesday at $1.375, down 43.75 cents. Harcourt stock fell 6.25 cents to close at 46.875 cents. |
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