GENERAL SIGNAL INITIATES TENDER OFFER FOR BEST POWER TECHNOLOGY.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)--MAY 16, 1995--General Signal Corporation announced today that it has begun a cash tender offer for all of the outstanding shares of Best Power Technology, Incorporated. Last week, General Signal announced its plans to acquire Best Power for $21 per share in cash and for Best Power to become part of its GS Electrical Power Systems Group unit. Best shareholders will have 20 days in which to respond to the offer. The tender offer will be followed as soon as possible by a second-step merger in which each share of Best Power not acquired in the tender offer will be converted into the right to receive $21.00 in cash. 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. General Signal chairman and chief executive officer Edmund M. Carpenter, the acquisition is part of an ongoing effort by General Signal to augment aug·ment v. aug·ment·ed, aug·ment·ing, aug·ments v.tr. 1. To make (something already developed or well under way) greater, as in size, extent, or quantity: the competitive position and growth of its operations. "The acquisition of Best Power broadens our GS Electrical Power Systems Group's line of power protection and conversion products and its distribution channels. The addition positions the combined operations For the department of the British War Office during World War II, see . In the military, combined operations are operations conducted by forces of two or more allied nations acting together for the accomplishment of a single mission. See also
(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. marketplace and as a global power protection, conversion, and transformer transformer, electrical device used to transfer an alternating current or voltage from one electric circuit to another by means of electromagnetic induction. competitor," Mr. Carpenter said. 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 Corp. Nino Fernandez, 203/329-4320 |
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