GENERAL SIGNAL, RELIANCE, AND ROCKWELL AGREE TO EXTENSION OF GRACE PERIOD.STAMFORD Stamford, town, England Stamford, town (1991 pop. 18,127), in the Parts of Kesteven, Lincolnshire, E central England, on the Welland River. It is a market town. Products include diesel engines, electrical equipment, bricks, and tiles. , Conn.--(BUSINESS WIRE)--November 21, 1994--General Signal Corporation announced this morning that it, Reliance Electric, and Rockwell International Rockwell International was the ultimate incarnation of a series of companies under the sphere of influence of Willard Rockwell, who had made his fortune after the invention and successful launch of a new bearing system for truck axles in 1919. had agreed to extend the grace period agreement that was announced on Thursday Thursday: see week. , November 17, 1994, from 12:00 Noon to 6:00 p.m. today. The grace period agreement provides that Rockwell and Reliance may negotiate over the terms of an agreement for a business combination, and that if negotiations are successful, that General Signal will receive a break-up fee and expense reimbursement Reimbursement Payment made to someone for out-of-pocket expenses has incurred. of $55.150 million. -0- General Signal Corporation, with estimated 1994 sales in excess of $1.7 billion, is a leading manufacturer of equipment and instruments for the process control, electrical, and industrial technology industries. CONTACT: General Signal Corporation, Stamford Mary Jane Guffey, 203/329-4322 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion